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When money is used to acquire goods and services, it is functioning as a medium of exchange. This role facilitates transactions by eliminating the inefficiencies of bartering, allowing individuals to trade value more easily. Additionally, money serves as a unit of account, providing a standard measure for valuing goods and services, and acts as a store of value, preserving purchasing power over time.
What else can I help you with?
What is the purpose of paper money?
to acquire goods and services
What is it called when you have money to buy goods or services?
If you have money to buy goods and services you are said to be 'solvent'. When you have no money to by goods and services you are said to be 'insolvent'.
What is the exchange of goods and services without the use of money?
That is the economic practice of "bartering". Trading goods or services you have for the goods or services someone else has.
Does a person always need money to obtain goods or services?
I think it a person does need money to obtain goods and services bcause you cant get anywhere without money
Why money is important in life?
we use money to exchange for goods and services! before that we would barter and exchange goods and services - the main difference between the two is that with money i can swap my apples that would rot for money that doesn't and save that money for later ( when my apples would have rotted) and exchange my money for other (food) goods or services! it's a no perishable way of saving and accumulating wealth against other goods or services!
What is the purpose of paper money?
to acquire goods and services
Why is money significant?
Money is significant because it is how people acquire goods and services in almost every society in modern times.
How can one acquire assets without using money?
One can acquire assets without using money by trading goods or services, bartering, or leveraging skills and resources to exchange for assets.
What is it called when you have money to buy goods or services?
If you have money to buy goods and services you are said to be 'solvent'. When you have no money to by goods and services you are said to be 'insolvent'.
How do you place a value on money?
By the amount of goods or services you can buy for it. By the amount of goods or services you can buy for it. By the amount of goods or services you can buy for it. By the amount of goods or services you can buy for it.
What is the exchange of goods and services without the use of money?
That is the economic practice of "bartering". Trading goods or services you have for the goods or services someone else has.
In the circular flow of goods and services what does the government use money payment to provide?
Goods and services
Why does the world have money?
The world has money to exchange for goods or services.
Does a person always need money to obtain goods or services?
I think it a person does need money to obtain goods and services bcause you cant get anywhere without money
What do Norway trade to get money?
Goods and services.
Why money is important in life?
we use money to exchange for goods and services! before that we would barter and exchange goods and services - the main difference between the two is that with money i can swap my apples that would rot for money that doesn't and save that money for later ( when my apples would have rotted) and exchange my money for other (food) goods or services! it's a no perishable way of saving and accumulating wealth against other goods or services!
Which best explains the profit motive?
The desire to make money through the production of goods and services.
