0
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.
Wiki User
∙ 10y ago
Add your answer:
Earn +20 pts
What type of money has alternative use as an economic good?
commodity money
The use of money tends to?
Simplify economic transactions.
What is a sentence using economic activity?
people in the map use economic activity to get more money
What does efficiency mean in economics?
In economics, efficiency means the overall use of resources. The overall use of resources can help maximize the production of the goods. In turn, the potential to make more money is there.
How does mild inflation stimulate economic growth?
gives money to governmant to use
What type of money has alternative use as an economic good?
commodity money
The use of money tends to?
Simplify economic transactions.
Why are you applying for the ups for this position?
I want to work at UPS because I want to use my skills to contribute to the efficiency and quality that defines UPS
What is a sentence using economic activity?
people in the map use economic activity to get more money
What does efficiency mean in economics?
In economics, efficiency means the overall use of resources. The overall use of resources can help maximize the production of the goods. In turn, the potential to make more money is there.
What has the author Ian R Smith written?
Ian R. Smith has written: 'Territorial use rights and economic efficiency' -- subject(s): Economic aspects, Economic aspects of Fisheries, Fisheries, Fishery law and legislation
What is the basis of Okonkwo's economic system?
The Igbo use cowries for money.
What is the use for Apollo Valves?
The main purpose for the use of Apollo Valves is to protect water users, and extend energy efficiency. Energy efficiency is a huge part of today's world, because it helps the environment, and saves money.
How does mild inflation stimulate economic growth?
gives money to governmant to use
The efficiency factor of economic growth is?
The efficiency factor is the sixth ingredient of economic growth. It is used to reach its full production potential, an economy must achieve economic efficiency as well as full employment. The economy must use its resources in the least costly way (productive efficiency) to produce the specific mix of goods and services that maximizes people's well-being (allocative efficiency). The supply, demand, and efficiency factors in economic growth are related. Unemployment caused by insufficient total spending (demand factor) may lower the rate of new capital accumulation (supply factor) and delay expenditures on research (supply factor). Conversely, low spending on investment (supply factor) may cause insufficient spending (demand factor) and unemployment. Widespread inefficiency in the use of resources (efficiency factor) may translate into higher costs of goods and services and thus lower profits, which in turn may slow down innovation and reduce the accumulation of capital (supply factor). Economic growth is a dynamic process which the supply, demand and efficiency factors all interact. Definition- Efficiency Factor - is the capacity of an economy to combine resources effectively to achieve growth of real output that the supply factors of growth make possible
What does the federal reserve board use to accelerate economic activity?
Print more money...
Economic planning in eradication of poverty?
Use the money of poor people to bail out the banks.
