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some disadvantages of commodity money are its not portable, durable, or divisible, it usually works in small economies
Leone Cormier
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Why is money called a medium of exchange?
money is called a medium of exchange because it acts as an intermediate in exchange of commodities
What is barter system?
In a barter system commodities are exchanged with commodities without the use of money. But in such a system two parties are required who are ready to buy and sell each other’s commodities. It is a primitive system.
What is the difference between money and and Commodity?
Money is what people use as the predominant item in exchange for everything else in the market. Commodities on the other hand can be useful by themselves and therefore usually do not qualify as a good type of money with the notable exception being gold and perhaps silver.
When economist says that money serves as a medium of exchange they mean that it is?
They mean that it serves as a way of exchange commodities.
In economics gold and salt are examples of which form of money?
Gold and salt are examples of commodity money in economics. Commodity money is backed by the intrinsic value of the goods or commodities themselves.
What is an Exchange of commodities for money or other commodities?
just that; an exchange. Maybe a sale? its called a trade
Why is money called a medium of exchange?
money is called a medium of exchange because it acts as an intermediate in exchange of commodities
Why money is called medium of exchange?
money is called a medium of exchange because it acts as an intermediate in exchange of commodities
What is barter system?
In a barter system commodities are exchanged with commodities without the use of money. But in such a system two parties are required who are ready to buy and sell each other’s commodities. It is a primitive system.
What does Commodities Future Trading Commission offer?
They offer the ability for people to invest their money in stocks of commodities such as crude oil and brent gold. The trading commision deals with the investment and the person just gives them the money and receives the shares.
What is the difference between money and and Commodity?
Money is what people use as the predominant item in exchange for everything else in the market. Commodities on the other hand can be useful by themselves and therefore usually do not qualify as a good type of money with the notable exception being gold and perhaps silver.
What is the purpose of commodities investing?
The purpose of commodities investing is to make money. One buys large amounts of either product and stock and hopes that the stock or product will increase in value at a later date.
When economist says that money serves as a medium of exchange they mean that it is?
They mean that it serves as a way of exchange commodities.
What has the author Chester W Keltner written?
Chester W. Keltner has written: 'How to make money in commodities'
Is commodity trading profitable or risky?
Commodities are usually traded via futures . This makes them very volatile and risky . You will usually lose your money a lot faster with commodities than with stock, but it depends on the details .
Where might one find the commodities of sliver?
One might find the commodities of silver on the website of Investing, at CNN Money, or on Investopedia. Each site offers pricing, charts, tables, and possibly advice.
In economics gold and salt are examples of which form of money?
Gold and salt are examples of commodity money in economics. Commodity money is backed by the intrinsic value of the goods or commodities themselves.
