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Money:-
A value that serves as a generally accepted medium of exchange. Money have indirect utility. Money cannot be pinpointed or specified.
Commodity:-
A reasonable homogeneous good or material that can bought and sold freely. The commodity have direct utility. The commodity can be pinpointed or specified.
What else can I help you with?
What is an Exchange of commodities for money or other commodities?
just that; an exchange. Maybe a sale? its called a trade
What is the difference between a Guest and a Customer?
Guest is the visitor that comes to your own place. He is gladly received, served with the best treats, and asked to repeat his visit. On the other side, customer is a purchaser. He is interacting in trading; he offers money and receives commodities, but not hospitality.
What was the difference between money issues by colonies and money issued by the continental congress?
Other colonies have money.
What was the difference between money issued by colonies and money issued by the continental congress?
Other colonies have money.
What is the difference between currency and money?
Currency refers to the physical form of money, such as coins and banknotes, that is used as a medium of exchange in an economy. Money, on the other hand, is a broader concept that includes not only currency but also other forms of assets that can be used to make transactions, such as checks, electronic transfers, and even commodities like gold. In essence, currency is a type of money, but money encompasses a wider range of financial instruments.
What is the difference between money and and Commodity?
Well, isn't that just a happy little question! Money is like a magic wand we use to exchange goods and services, while commodities are the actual goods and products themselves. Money helps us put a value on those commodities and makes trading easier, like painting a beautiful picture with different colors. Just remember, whether it's money or commodities, they both play a special role in creating a happy little economy.
Difference between seizure and confiscation in essential commodities act1955?
In the Essential Commodities Act, 1955, seizure refers to the act of taking possession of essential commodities deemed to be unlawfully held or hoarded. Confiscation, on the other hand, involves permanently depriving the violator of their rights to the seized commodities as a penalty for the offense.
What is the difference between NRE and NRO accounts?
The difference between an NRE and NRO account is that with an NRE account, you can't transfer money any way other than remittance from abroad. With NRO accounts, money is freely transferable.
What is the difference between an NRE and NRO account?
The difference between an NRE and NRO account is that with an NRE account, you can't transfer money any way other than remittance from abroad. With NRO accounts, money is freely transferable.
What is barter system?
In a barter system commodities are exchanged with commodities without the use of money. But in such a system two parties are required who are ready to buy and sell each other’s commodities. It is a primitive system.
What is a protected tariff intened to protect?
The difference between money paid to, and received from, other nations in trade is the
According to sociologists, what is the difference between income and wealth?
One is money you earned each week from work; the other is money already saved :)
