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What is a money economy?
It is an economy where people use currency rather than barter to buy and sell goods.
Is bartering a noun?
Yes, the word 'bartering' is the present participle of the verb 'to barter'. The present participle of the verb is a gerund (a verbal noun); for example: Very few people are skilled in the art of bartering.
What is an money economy?
an economic economy based on money exchange rather than barter
What is the term for trade that is based on the exchange of goods rather than for money?
This is known as bartering.
Reaction to currency act?
The colonists reaction to the currency act of 1764 was that they didn't think it was fair to abolish their currencies and impose the pound as the only acceptable form of money. They protested against it.
The colonists could fight defensively rather than offensively.?
True
When has barter been used in the US?
Bartering is rarely used in the US. Money is more useful than barter in most cases, though, since money is exchangeable for any desirable good or medium. Barter is only useful if both parties want a good or service that the other party can render. As a result, unless Americans actually wish to exchange goods for less than market value, they will opt to do a transaction valuated in currency.Probably the most famous acts of barter in the USA were the pre-independence relations between European colonists and the Amerindian Tribes. Since these tribes did not have currency, bartering was the only way to get necessities, like food, land, and resources.
What was the ''Mayflower compact'' and why was it drawn up?
the will of the colonists rather than on that of the King of England.
Why is money better than barter?
Money is more useful than barter in most cases, though, since money is exchangeable for any desirable good or medium. Barter is only useful if both parties want a good or service that the other party can render. As a result, unless two parties actually wish to exchange goods for less than market value, they will opt to do a transaction valuated in currency.
Why did foreign nations supported the colonists rather than Great Britain's because?
bec
What was the Roman currency in 67 AD?
Roman currency was standard. During the times of Vespasian the standard currency was used, that is, denarius, sesterces, aureus etc. The only difference was the images on the coins which were of the Flavians, rather than, say, Nero or Augustus.
What did the ancient incas use to buy and sell goods?
The ancient Incas primarily used a system of barter to buy and sell goods, trading items directly without a standardized currency. However, they also utilized a form of currency known as "quipus," which were knotted strings used for record-keeping rather than as money in the traditional sense. The Inca economy was centrally planned, with the government controlling the distribution of goods, ensuring that resources were allocated according to need rather than market forces. This system facilitated trade and resource management across their vast empire.
