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Which form of exchange is used in simple societies and does not involve money?
Barter
Which form of exchange is used in simple societies and not involve money?
Barter
What is the difference between a commodity form of money and token money?
A commodity form of money is when the value of the money is determined by the intrinsic worth of what makes it. For example, if the money is salt (as was used by the Roman empire) then the value of the money is the same as the value of the same weight of salt in another form. A token form of money is when a form of money (for example a coin) is created that has little or no intrinsic value, but has value because a company or person has agreed to exchange the token for a good or service of value. One example is bus tokens - small coins that can be presented on buses in exchange for transportation.
Why money serves as a medium of exchange?
Money serves as a medium of exchange because it can be used to exchange many different types of goods or services by itself.
When you use paper money to pay for food the money is a?
When you use paper currency to pay for food items, the money is considered a medium of exchange which is an accepted form of exchange for goods and services offered to consumers.
When you use paper money to pay for food the money is a .?
When you use paper currency to pay for food items, the money is considered a medium of exchange which is an accepted form of exchange for goods and services offered to consumers.
What is the term used for the money a bank pays you in exchange for keeping your money for a while?
interest
What were the ealiest system of exchange before money was used?
miguel
What is the full form of axe?
Axe ----automatic cross exchange. It is mainly used as tax exchange.
What is an economist's definition of currency?
"Currency' is money in any form when in actual use as a medium of exchange, especially circulating paper money.
Why does commodity money have value?
commodity money is a good that can be used as a medium of exchange or for some other purpose
How much US money is used in Norway?
The Norwegian Krone. The plural form is Kroner. There are about 5 kroners in one U.S. Dollar.
