Ask Question
25 April, 11:56

On the island of Yap, large circular stones are used for money. The main reason why this type of money serves its function as a medium of exchange is because it is

Group of answer choices

A very portable

B highly divisible

C accepted as payment

D prized in foreign transactions

+2
Answers (2)
  1. 25 April, 15:22
    0
    The correct answer is C. On the island of Yap, large circular stones are used for money. The main reason why this type of money serves its function as a medium of exchange is because it is accepted as payment.

    Explanation:

    Money is any object that is generally accepted in a certain country or within a given socio-economic context as payment for goods and services and the repayment of debts.

    Therefore, since its main characteristic is the acceptance by the population of its validity as an exchange method, whenever it is agreed by the people who carry out a transaction any type of money can be used.

    In the example, circular stones are accepted by the inhabitants of the island, and that is why they function as a medium of exchange.
  2. 25 April, 15:52
    0
    I'm pretty sure its C

    Explanation:

    Cause its a form of currency.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “On the island of Yap, large circular stones are used for money. The main reason why this type of money serves its function as a medium of ...” in 📙 Social Studies 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