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Commerce has always involved people trading items of worth - Mr. Smith has an object Mr. Jones wants, and vice versa. And a long time ago, both parties had to have actual objects - perhaps Mr. Smith has fish and Mr. Jones has beer. The problem is, if they're in Gloucester or Astoria Mr. Jones is going to have more fish on his hands than he knows what to do with. His only way out is to take the fish to a town where they have none and trade it for beer ingredients.
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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 are commodities of money?
some disadvantages of commodity money are its not portable, durable, or divisible, it usually works in small economies
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.
How does the government pay for it Deficits?
Money saved from past surplus
How does the government often pay for the its deficits?
Money saved from past surplus
What is the past perfect tense of saved?
The past perfect tense is had saved.
What are examples of commodities used as money in the past?
Examples of commodities that have been used as media of exchange include gold, silver, copper, salt, peppercorns, tea, decorated belts, shells, alcohol, cigarettes, silk, candy, nails, cocoa beans, cowries and barley. These were used a s a form of money in the past. But it is not fully erased from society it is still used today in some economies
What is an Exchange of commodities for money or other commodities?
just that; an exchange. Maybe a sale? its called a trade
How can historians reconstruct the past by tracing the exchange of particular commodities?
Historians can reconstruct the past by tracing the exchange of particular commodities through studying trade routes, analyzing account records, examining archaeological evidence of ancient marketplaces, and interpreting written sources such as trade contracts and merchants' letters. By piecing together these various sources of information, historians can gain insights into the economic relationships, cultural exchanges, and social structures of past societies.
What could one find on the website Futures and Commodities?
Futures and Commodities is a website dedicated to following the prices of commodities like natural gas, oil, and gold among others. The site also takes a look at the past and potential future of these commodities.
Do you get taxed on money saved?
Not taxed again on the after income tax money that you have saved but you are taxed on the earnings from the after income tax saved money.
What is the past tense to save?
The past tense is saved.
What is the present perfect of the verb save?
have / has saved They have saved money all their lives. She has saved very little money.
What is the past participle of save?
The past participle of "save" is "saved."
What is the past tense for save?
saved
