If mollusk shells were accepted as a method of payment in modern-day markets, what economic role would they play in the financial system?

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9 January, 03:42

If mollusk shells were accepted as a method of payment in modern-day markets, what economic role would they play in the financial system?

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Woods · Answer 1

medium of exchange

Explanation:

Mollusk shells would probably be used as a medium of exchange, but cannot be considered money. In order for mollusk shells to be considered money, they have to serve the four functions of money:

serve as a unit of account serve as a store of value serve as a medium of exchange serve as a standard of deferred payment.