bcuz it waz better for exchanging goods
It is an economy where people use currency rather than barter to buy and sell goods.
Yes, the word 'bartering' is the present participle of the verb 'to barter'. The present participle of the verb is a gerund (a verbal noun); for example: Very few people are skilled in the art of bartering.
an economic economy based on money exchange rather than barter
The colonists reaction to the currency act of 1764 was that they didn't think it was fair to abolish their currencies and impose the pound as the only acceptable form of money. They protested against it.
This is known as bartering.
True
Bartering is rarely used in the US. Money is more useful than barter in most cases, though, since money is exchangeable for any desirable good or medium. Barter is only useful if both parties want a good or service that the other party can render. As a result, unless Americans actually wish to exchange goods for less than market value, they will opt to do a transaction valuated in currency.Probably the most famous acts of barter in the USA were the pre-independence relations between European colonists and the Amerindian Tribes. Since these tribes did not have currency, bartering was the only way to get necessities, like food, land, and resources.
the will of the colonists rather than on that of the King of England.
Money is more useful than barter in most cases, though, since money is exchangeable for any desirable good or medium. Barter is only useful if both parties want a good or service that the other party can render. As a result, unless two parties actually wish to exchange goods for less than market value, they will opt to do a transaction valuated in currency.
bec
Roman currency was standard. During the times of Vespasian the standard currency was used, that is, denarius, sesterces, aureus etc. The only difference was the images on the coins which were of the Flavians, rather than, say, Nero or Augustus.
The effect of people holding part of the increase in the money supply as currency, rather than depositing it so that it can be used to create more loans