Money solves the problems created by the barter system. First, money serves as amedium of exchange, which means that money acts as an intermediary between the buyer and the seller. Instead of exchanging hairdos
It also acts a unit of account. In other words, we use it to measure the value of various goods and services in an economy. It essentially serves as a standard of value. Before money existed (when bartering was the main meansin which people traded), it was difficult to store a surplu...
The concept of money serves the following objectives: Serves as a medium of exchange Acts as a value store Can be used as an accounting unit It is imperative to point out that that money plays a vital role in the economy. Money allows people to acquire what they need for them to live ...
Money is anything of value that is used in exchange for goods and services. In the United States, money refers to the dollar, which is the U.S. currency that is used to make purchases. Answer and Explanation:1 Money serves three purposes. First, as a medium of exchange, money is used...
Which value of asset will give the highest money, a distress value, monopoly value, sentimental value, or potential value? What are the functions of money? Which of the following is not a characteristic of money? a. It provides a way to measure the relative value of goods and services. ...
Money also serves as a store of value for use in future transactions.Money is useful for facilitating trade. Unlike a barter system, where goods are exchanged directly (for example, a goat in exchange for a pot of oil), a monetary system allows the exchange of goods for an accepted ...
课标导航 主题导读 A Standard of Value.Money provides a unit of account that serves as a standard to measure value.The value of an item is a measure of what a person will sacrifice to obtain it.How much is a two-week vacation in Hawaii worth to you?If you’re like most p...
] 7.To create a new voice, which of the following is/are needed? A.Sounds made by the patient. B.A few days of audio recording. C.The voice of at least two donors. D.ModelTalker that can combine words. 答案 A [细节理解题。由第四段中的 characteristics of the patient’s voice—...
useful—you can't eat gold, and it won't keep you warm at night, but the majority of people think it is beautiful, and they know others think it is beautiful. So, gold is something that has worth. Gold, therefore, serves as a physical token of wealth based on people's perceptions....
Mansfield (1992) argues that money is everything that fulfills the typical functions of money. Money serves as a medium of exchange, a mean of storing wealth and value, a means of evaluation, and a unit of account (Begg, Fischer, & Dornbusch, 2003). Theories of money in economics are ...