Applies to cryptoeconomics as well as traditional economics.|alt=Graph depicting Quantity on X-axis and Price on Y-axis]] Cryptoeconomics may be considered an evolution of digital economics, which in turn evolved from traditional economics (commonly divided into microeconomics and macroeconomics). Consequently, traditional economic concepts regarding production, distribution, and consumption of goods and services also apply to cryptoeconomics. For example, these include Adam Smith's three basic laws of economics: Law of Supply and Demand, Law of Self Interest, and Law of Competition.[10] They also include more modern economic concepts, such as fiat money theory and Modern Monetary Theory (MMT).[11]