Sign In
Ask Question
Tough Guy
Business
24 February, 17:04
What is money? Why do people use money?
+2
Answers (
2
)
Cora Adams
24 February, 17:18
0
We need money because we want to exchange goods and services with other people. The barter system is insanely inefficient, because you often don't need what the other person has, so we need a medium of exchange. The requirements of a medium of exchange are that it be scarce and fungible (ie, one dollar is exactly as good as another). Other things that are desirable in a medium of exchange are that it be durable, storable, portable, easily divisible, easy to identify and hard to fake. Money meets all these requirements better than anything else that's been used.
Comment
Complaint
Link
Jonathon Rich
24 February, 17:27
0
Money is a current medium of exchange in the form of coins and banknotes. We use money so we can exchange goods and services with other people.
Comment
Complaint
Link
Know the Answer?
Answer
Not Sure About the Answer?
Find an answer to your question 👍
“What is money? Why do people use money? ...”
in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
When Hester's car breaks down, she asks Insta-Tow, Inc., to tow it to Jerry's Repair Shop. There is no discussion of a price, and Hester and Insta-Tow do not sign any documents. Later, Insta-Tow sends Hester a bill.
Answers (1)
Allen Company bought a new copy machine to be depreciated straight line for three years for use by sales personnel. Where would this purchase be reflected on the Statement of Cash Flows? A.
Answers (1)
On March 1, 2018, Lewis Services issued a 6% long-term notes payable for $18,000. It is payable over a 3-year term in $6000 principal installments on March 1 of each year, beginning March 1, 2019.
Answers (1)
Which statement best describes the term insurance? a) It is a protection that guarantees to pay you in the event of losing your job. b) It is a protection that guarantees to pay you in the event of financial losses.
Answers (1)
Which of the following scenarios are either not accounted for or measured inaccurately by either the income or the expenditure methods of calculating GDP for the United States? Check all that apply.
Answers (1)
New Questions in Business
Identify the internal control principle that is applicable to each procedure. The following reconciling items are applicable to the bank reconciliation for Ellington Company: (1) outstanding checks, (2) bank debit memorandum for service charge, (3)
Answers (1)
Valera Corporation makes a product with the following standards for labor and variable overhead: Standard Quantity or Hours Standard Price or Rate Standard Cost Per Unit Direct labor 0.4 hours $ 21.00 per hour $ 8.40 Variable overhead 0.4 hours $ 6.
Answers (1)
Which of the following are tasks associated with business administration positions? a. answering phones b. designing goods for production c. delivering goods to markets d. maintaining records e. repairing computers
Answers (1)
Pepe, Incorporated acquired 60% of Devin Company on January 1, 2017. On that date Devin sold equipment to Pepe for $45,000. The equipment had a cost of $120,000 and accumulated depreciation of $66,000 with a remaining life of 9 years.
Answers (1)
Which statement is incorrect? a. Dividends represent a distribution by a corporation to its stockholders. b. Dividends are shown on the income statement. c. Dividends reduce stockholders' equity, thus the Dividends account increases on the left side.
Answers (1)
Home
»
Business
» What is money? Why do people use money?
Sign In
Sign Up
Forgot Password?