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What was the main problem with using representative money for trade along the Silk Road?
The main problem with using representative money along the Silk Road was the lack of uniformity and trust in the value of such currency across different regions. Each area had its own systems of trade and valuation, which could lead to confusion and disputes. Additionally, the risk of counterfeiting or devaluation could undermine the effectiveness of representative money, making it less reliable for long-distance trade. As a result, traders often relied on barter or precious metals to ensure fair exchanges.
What else can I help you with?
What happened after of the Embargo Act of 1807?
after the embargo took place it started problem because most people lost money because they relied on trade to make money so after a while they took it off hope that helped
Why did they have the fur trade?
To get money
What kind of money did ancient mesopotamia's use?
Money wasn't used for trade. They used silver and grain for fixed price money, instead of trade yup
How do pioneers make money?
Trade.
How did the invention of money affect trade in BC?
OK so there was no money until about a couple thousand years ago there discovered a higher trade, to limit the way they do things and have a better trading service. So money money money
What does the office of the US trade representative advise the president on?
Office of the U.S. Trade Representative
Which has the responsibility of setting coordinating and administering an overall US trade policy?
Office of the United States trade representative
Can you trade your ipod5 for a iphone4?
As long as you have someone willing to trade with you, you can trade your iPod 5 for an iPhone 4. They might request a little money to go along with the trade to make the trade fair.
What is representative money?
Representative money is a type of currency that represents a claim on a commodity, which can be redeemed for that commodity. Unlike fiat money, which has value by government decree, representative money derives its value from the physical asset it represents, such as gold or silver. An example includes gold certificates that could be exchanged for a specific amount of gold. This system helps facilitate trade by providing a convenient medium of exchange while still being tied to tangible assets.
What might be one problem associated with trade deficit?
countries must borrow money to pay for their imports. -- A+
What might be one problem associated with a trade deficit?
countries must borrow money to pay for their imports. -- A+
Where can you trade old money in London?
I am pretty sure, along Great Russell St, pretty much just across the street of The Brittish Museum in a small coin shop, that you will be able to trade your old money.
The office of the US trade representative advises the president on what?
issues related to foreign trade
What does The Office of the US Trade Representative advises the President on?
issues related to foreign trade
The U.S. trade representative is in charge of the nation's security.?
Jay loco 956 4Bidden Kreations Brownsville Texas
Is salt an example of commodity money or representative money?
Salt is considered an example of commodity money because it has intrinsic value and can be used for its original purpose, such as seasoning and preserving food. Historically, it was widely used in trade and could be directly exchanged for goods and services. In contrast, representative money is a type of currency that represents a claim on a commodity, such as gold or silver, rather than having intrinsic value itself.
How did trade along the Nile come about?
It came about when they didn't use money so they used a method called bartering. Nubians carried goods from central Africa and Nubia into Egypt and southwestern. They developed trade routes over land, and they boosted the affiliation between Nubia and Egypt. The trade along the Nile river came from them using boats and other crafts to trade with other parts of Egypt along the Nile river.
