What Is An Example Of Commodity Money? Examples of commodity money are gold and silver coins. Gold coins were valuable because they could be used in exchange for other goods or services, but also because the gold itself was valued and had other uses. Commodity money gave way to the next stage-representative money. What is
Which Of The Following Best Explains How The Invention Of Money Affected The Barter System Apex? The best explanation that will describe how the invention of money affected the barter system is because of the cause of the barter system that is supplemented that is used by having a nonperishable or providing the nonperishable medium
What Types Of Money Are Included In The M2 Category Check All That Apply Currency Savings Accountschecking Accounts Commodity Money Short Term Investment Accounts? M2 money includes the liquid assets and it is a broader term than M1 money. M1 includes cash, saving accounts, checking accounts, and anything that is less liquid. Answer: Money that
What Are The Advantages Of Fiat Money Over Commodity And Representative Money? Fiat money is a government-issued currency that is not backed by a commodity such as gold. Fiat money gives central banks greater control over the economy because they can control how much money is printed. Most modern paper currencies, such as the U.S.
Why Was Trade Important To The Olmec Civilization? What was the importance of trade to ancient American civilizations? Trade boosted economies and allowed an exchange of traditions and ideas. … The Olmecs had art that can be sen in many pottery and sculptures of later civilizations. They had urban designs and were the mother culture,
Who Came Up With The Concept Of Money? The original idea of money is generally credited to the Babylonians and their neighboring states, who developed the modern economic system as we know it today, with rules of law designating the use and abuse of a monetary system, as well as the idea of “debt” and
Which Of The Following Best Explains What Happens When Currency Is Pegged To The US Dollar? Which best explains what happens when a currency is pegged to the U.S. dollar? The value of the pegged currency goes up and down depending on the exchange rate of the U.S. dollar. What type of exchange rate does
Which Of The Following Accurately Explains What An Exchange Rate Of 1 9 Between European Euro And Mexican Pesos Mean? An exchange rate of 1:9 between the European Euro and Mexican Pesos means that you can exchange 1 European Euro for 9 Mexican Pesos. Which accurately explains what an exchange rate of 1 9 between
What Are The 3 Functions Of Money? To summarize, money has taken many forms through the ages, but money consistently has three functions: store of value, unit of account, and medium of exchange. What are the 5 functions of money? The 5 functions of money are a measure of value, an exchange medium, store of
What Did People Before Money? A barter system is an old method of exchange. Th is system has been used for centuries and long before money was invented. People exchanged services and goods for other services and goods in return. What country invented money? The first use of paper currency can be traced back to