Sign In
Ask Question
Business
Giancarlo Mccormick
5 October, 09:25
What is money? Why do people use money?
+1
Answers (
2
)
Kendal Maxwell
5 October, 10:25
0
Money is a current medium of exchange in the form of coins and banknotes. We use money so we can exchange goods and services with other people.
Comment
Complaint
Link
Elizabeth Morgan
5 October, 11:20
0
We need money because we want to exchange goods and services with other people. The barter system is insanely inefficient, because you often don't need what the other person has, so we need a medium of exchange. The requirements of a medium of exchange are that it be scarce and fungible (ie, one dollar is exactly as good as another). Other things that are desirable in a medium of exchange are that it be durable, storable, portable, easily divisible, easy to identify and hard to fake. Money meets all these requirements better than anything else that's been used.
Comment
Complaint
Link
Know the Answer?
Answer
Not Sure About the Answer?
Get an answer to your question ✅
“What is money? Why do people use money? ...”
in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
Flounder Co. had purchased 240 shares of Washington Co. for $42 each this year (Oregon Co. does not have significant influence). Flounder Co. sold 120 shares of Washington Co. stock for $47 each. At year-end, the price per share of the Washington Co.
Answers (1)
Banks are regulated more strictly than other businesses true or false
Answers (1)
lpine Company solicited bids from several contractors to construct an addition to its office building. The lowest bid received was for $1,200,000. Alpine decided to construct the addition itself at a cost of $1,100,000.
Answers (1)
Examples of nonprogrammed decisions would include the decision to: a. perform routine maintenance on one of the machines in manufacturing. b. fill a position. c. terminate an employee for violation of company rules. d. reorder supplies. e.
Answers (1)
A state's sale tax is 8%. This places a higher burden on low-income individuals. What type of tax system does this represent?
Answers (1)
New Questions in Business
As a speaker, the best way to utilize the lectern during your speech is to
Answers (1)
LO 4.4Assigning indirect costs to specific jobs is completed by which of the following? applying the costs to manufacturing overhead using the predetermined overhead rate using the manufacturing costs incurred applying the indirect labor to the work
Answers (1)
What are the two rules of admissibility for photographic and recorded evidence?
Answers (1)
Why are conflicts of interests a problem in business?
Answers (1)
E-Eyes just issued some new preferred stock. The issue will pay an annual dividend of $14 in perpetuity, beginning 6 years from now. If the market requires a 12 percent return on this investment, how much does a share of preferred stock cost today?
Answers (1)
Home
»
Business
» What is money? Why do people use money?
Sign In
Sign Up
Forgot Password?