How does the existence of money simplify the process of buying and selling?

Q: why can't food be used as a form of money?

A: Money is anything which is generally accepted by the people in the economy and used for the purchase…

Q: Set forth and describe two of the basic qualities needed for any item to be used as money.

A: Money is a resource or asset that is accepted and used as an exchange medium to buy commodities and…

Q: What is the significance of money?

A: Money is any object that is generally accepted as payment for goods and services and repayment of…

Q: Money is created when  A. a depositor deposits money at the bank. B. a bank grants a loan to a…

A: Money is something that is accepted as medium of exchange . It can be also be stored and act as…

Q: How do we measure the amount of money in an economy?

A: In macroeconomics, money is important as it is used to carry daily transactions and for making…

Q: "It separated the act of sale and purchase" Which function of money is reflected in this statement?

A: We know well that money plays for important and crucial role in any Tommy of any country which are…

Q: What is commodity money?

A: Money is anything that can be used for exchange of goods and services in the market. The four main…

Q: What are the main functions of money ?

A: Money refers to anything that is widely accepted in an economy as payment in exchange for goods and…

Q: Would you consider deposits of money in banks and similar situations, such as savings deposit and…

A: Bank deposits comprise funds that are kept in financial institutions by individuals and business…

Q: Could corn be used as commodity money?

A: Commodity Money: The commodity money refers to the commodities that were used as the medium of…

Q: Explain the four functions of money?

A: Medium of Exchange    One of the most important primary functions of money is that it acts as a…

Q: Explain why credit cards are not considered as money.

A:

Q: Explain how money evolved over the years?

A: Money is an object that is generally accepted as payment for goods and services and repayment of…

Q: Who is responsible for creating money?

A: The onus for the creation of money in an economy is upon the banks. Banks are the real money…

Q: What is the role of money for Adam Smith?

A: The money is anything which is accepted by the economy and that has the ability to meet the basic…

Q: What's the role of the money in the economy?

A: Money is something that is used to make payments for the commodities purchased or to repay the debts…

Q: In many casinos, a person buys chips to use for gambling. Within the casino's walls, customers often…

A: Given : In casinos, chips are used as money to purchase goods and services.

Q: Why is money necessary in an economy? What are its functions and how is it created?

A: Money is the source which helps in buying goods and services. It works as a medium of exchange which…

Q: History of money

A: The word money means a medium of material where one can exchange goods and services.

Q: what is the contribution of money to our financial needs

A: Currently money is used all over the world. Money is important all around the world. Currency is…

Q: Fiat money is accepted as money becaus?

A: The term is gotten from the Latin word fiat, and that implies an assurance by power — for this…

Q: Explain the "STORE OF VALUE" function of money

A: In an economy money has to play various roles such as it acts as a medium of exchange also it acts…

Q: What would happen if we all decided that money has no value?

A: Money has a value, as it is issued by the government that is used around the world. People use the…

Q: If people use ketchup packets as a medium of exchange, what type of money would they be?

A: When ketchup packets act as medium of exchange then the money would be called as commodity…

Q: Views on electronic money, or e-money, and digital cash

A: Money is a medium of exchange and is accepted as payment of any product or service.

Q: What are the functions of money?

A: The functions of money are: 1. Store of value 2. Medium of exchange  3. Unit of account 4. A…

Q: Explain the simplicity of money creation?

A: The cycle in which the financial system makes checkable deposits(CD) by loaning excess reserves. The…

Q: Money

A: Money is the main & most important ‘medium of exchange’ in an economy. Through these medium…

Q: What is a definition of money and list 4 factors that affect the demand for money?

A: Answer is given below

Q: Example of money motives?

A: Anything can be used as a medium of exchange to buy goods and services is known as money. The money…

Q: Money is considered to be commodity or unit of exchange? What are the important functions of money…

A: Money is used as an expression for wealth in general. It is an important part of the economic…

Q: how is money created?

A: In economics, money is a tool or a set of assets in the economy through which goods and services are…

Q: How did money arise? What issues did money solve?

A: Money is the medium of exchange which is used to purchase goods and services.

Q: what is the role of money in the economy?

A: Money is a widely accepted mode of payment for goods and services or in the discharge of other…

Q: What are the four functions that money serves?

A: Money is an economic unit that is used to conduct daily transactions. Prior to the use of money, the…

Q: Which statistical measure helps in measuring the purchasing power of money?

A: To find : Which helps measuring  purchasing power of money

Q: Complete each of the following sentences: a product that serves both as money and as a commodity is

A: Money has a major component in the living things of most people. The more money a person makes, the…

Q: What is the supply, demand, and price of money?

A:

Q: What is fiat money? Give some examples.

A: Fiat Money refers to the currency that has legal tender by the decree of the government and is not…

Q: Suppose that you run a business and during your management of money, some cash remains. What should…

A: Cash: Money is legitimate delicate—cash or coins—that can be utilized to trade products, obligation,…