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Here are two:
In the "barter system, one trades goods or services for goods or services in lieu of money exchanges.
Another non-monetary system is a Resource Based Economy. Originated by Jacque Fresco, it is a whole factor socio-economic system in which all goods and services are available without the use of money, credits, barter or any other system of debt or servitude. All resources become the common heritage of all of the inhabitants, not just a select few.
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Why does the use of money contribute to economic efficiency?
The use of money increases economic efficiency because without it, we would be a barter system. In a barter system, if I want potatoes, and have oranges to trade, the person with the potatoes has to want oranges to be willing to trade with me. With the use of money, I can give him a known amount of value in money, which he can buy what he wants to with.
Which economic system centers on trade?
The capitalist system or "market economy" uses trade. You earn money where you want and use it to buy what you want (trading money for goods). It is possible that the question is looking for an answer of a "barter economy" where people trade goods and services directly without the use of currency (I give you 1 cow for 5 sheep).
What economic system do Romania presently use?
Free market economic system
What is trade by barter?
Trade by barter is a system of trade whereby commodities are exchanged or traded upon without the use of medium of exchange i.e money. it is cumbersome as it entails double coincidence of wants.
What type of money has alternative use as an economic good?
commodity money
Why does the use of money contribute to economic efficiency?
The use of money increases economic efficiency because without it, we would be a barter system. In a barter system, if I want potatoes, and have oranges to trade, the person with the potatoes has to want oranges to be willing to trade with me. With the use of money, I can give him a known amount of value in money, which he can buy what he wants to with.
Which economic system centers on trade?
The capitalist system or "market economy" uses trade. You earn money where you want and use it to buy what you want (trading money for goods). It is possible that the question is looking for an answer of a "barter economy" where people trade goods and services directly without the use of currency (I give you 1 cow for 5 sheep).
What is the basis of Okonkwo's economic system?
The Igbo use cowries for money.
Developed after the Lydians introduced coined money to use in trade?
The concept of coined money was introduced by the Lydians around the 7th century BC to facilitate trade and simplify transactions. Coined money, minted by the Lydian King Alyattes, consisted of electrum, a naturally occurring alloy of gold and silver. This innovation helped standardize values and promote economic growth in the region.
What economic system do Romania presently use?
Free market economic system
What did Plymouth use for money?
trade. they didnt use money.
Form of trade without the use of money?
people will trade and thing for money
What is trade by barter?
Trade by barter is a system of trade whereby commodities are exchanged or traded upon without the use of medium of exchange i.e money. it is cumbersome as it entails double coincidence of wants.
Was one of the economic changes that took place during the commercial revolution in Europe?
The use of money increased, and a system of credit evolved.
How did King Darius improve trade in the Persian Empire?
He had everyone in the empire use the same money system of weights and measurements.
Can you trade in a xbox 360 for some money of a playstation3?
you can trade in an xbox and use the money you get to get money off a ps3
What type of money has alternative use as an economic good?
commodity money
