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13 November, 05:54

Money encourages specialization by exchange costs.

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  1. 13 November, 08:15
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    Money encourages specialization by decreasing the opportunity costs of exchange.

    Money, as a unit of account, can be used to express the market value of different goods and services.

    Money, as a store of value, retains its buying power and liquidity (can easily be traded for goods and services at any time)
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