Question and answer
Question not found
Ask a question
Not a good answer? Get an answer now. (Free)
New answers
Rating

There are no new answers.

Comments

There are no comments.

Add an answer or comment
Log in or sign up first.
Questions asked by the same visitor
Money serves three essential functions which include all of the following EXCEPT: a. medium of exchange c. store of value b. measure of value d. barter
Weegy: Money serves three essential functions which include all of the following EXCEPT: barter. (More)
Question
Updated 121 days ago|9/25/2014 7:45:32 AM
0 Answers/Comments
Name and describe the essential functions of money.
Weegy: These are the 4 essential functions of money: Medium of Exchange: acts as a medium of exchange hence permits a time interval between buying and selling commodities; thus eliminates need for a ?double coincidence of wants? implied by bartering, [ as one can sell goods and services without simultaneously purchasing. (Most important) Store of Value: Able to perform function as Medium of Exchange because it retains value over time. (Though real value eroded at the rate of inflation the higher inflation gets, the worse it performs this function.) not perfect (infl) but has advantage that in princip: readily divisible. Standard of Deferred Payment: (closely related to Store of Value function) Loans and future payments are agreed and contracted in money terms, as money units are accepted as the means of settling future accounts. But money only adequate if prot. v. inflation so can be store of value. Unit of Account: the unit of account in which prices quoted and accounting records kept. Not essential could use other stable Numeraires but advantage of divisibility. Using 1 commodity as unit of account has efficiency gains with regard to transaction costs considerable reduction in number of independent exchange ratios needed compared to bartering: reduction in info needed for rational trading. ] (More)
Question
Expert Answered
Asked 7/3/2013 12:44:09 PM
0 Answers/Comments
Define barter
Question
Not Answered
Updated 8/7/2013 10:23:46 PM
1 Answer/Comment
Barter - Exchange (goods or services) for other goods or services without using money

Added 8/7/2013 10:23:46 PM
What is commodity money? User: Define barter
Question
Not Answered
Updated 8/7/2013 10:25:31 PM
1 Answer/Comment
Commodity money is money whose value comes from a commodity out of which it is made. It is objects that have value in themselves as well as for use as money.

[en.wikipedia.org/wiki/Commodity_money]
Added 8/7/2013 10:25:31 PM
What is fiat money?
Question
Updated 7/5/2013 9:35:40 PM
1 Answer/Comment

Fiat money
-is money that derives its value from government regulation or law. The term fiat currency is used when the fiat money is used as the main currency of the country. The term derives from the Latin fiat ("let it be done", "it shall be").

Added 7/5/2013 9:36:09 PM
19,144,729 questions answered
Popular Conversations
The slope of the line whose equation is 5x + 3y = -2 ...
Weegy: The slope of the line whose equation is 5x + 3y = -2 is a.) -5/3 User: The y-intercept of the line whose ...
1/24/2015 10:20:25 PM| 6 Answers
What is the value of b^2 - 4ac for the following equation? 2x^2 - 2x ...
Weegy: 10x^2 - 19x + 6 = 0 The solution formula is x = [-b ? sqrt (b^2 - 4ac)]/2a The numerators of the solution is: ...
1/24/2015 9:48:19 AM| 4 Answers
Which of the following constants can be added to x^2 - 3x to form a ...
Weegy: 8x^2 - 2x = 1; 8x^2 - 2x - 1= 0; (4x + 1)(2x - 1) = 0 (4x + 1) = 0; 4x = -1, x = -1/4 or (2x - 1) = 0; 2x = 1; ...
1/24/2015 9:39:47 AM| 3 Answers
Which of the following points is a solution to the system of ...
Weegy: The following points of(-3 , -2) is a solution to the system of equations shown y - x = -1 x + y = -5 . ...
1/24/2015 10:34:32 PM| 3 Answers
8y - 1 = x 3x = 2y Solve the system of equations by ...
Weegy: 2x + y = 6; y = 3x + 4 The resulting equation is 2x + (3x + 4) = 6. User: 2x + y = 7 y = x + 1 When the ...
1/24/2015 10:54:55 PM| 3 Answers
Brenda Lee has received a $10,000 gift from her mother and is trying ...
Weegy: B. return User: Terri Hamilton has just received $30,000 from an uncle who died and is trying to decide how to ...
1/24/2015 2:01:50 PM| 2 Answers
The graph of which of the following equations contains the points (2, ...
Weegy: 2x - y = 2 x + y = 4 3x = 6; x = 6/3; x = 2 2x - y = 2; 2(2) - y = 2; 4 - y = 2; -y = 2 - 4; -y = -2; y ...
1/24/2015 9:12:35 PM| 2 Answers
Weegy Stuff
S
L
Points 1655 [Total 1676]| Ratings 0| Comments 1655| Invitations 0|Offline
S
L
P
L
P
Points 1229 [Total 6506]| Ratings 0| Comments 1229| Invitations 0|Offline
S
1
L
1
L
P
P
L
P
P
Points 563 [Total 15574]| Ratings 0| Comments 563| Invitations 0|Offline
S
L
Points 438 [Total 1119]| Ratings 2| Comments 418| Invitations 0|Offline
S
1
L
L
Points 178 [Total 6878]| Ratings 0| Comments 178| Invitations 0|Online
S
P
C
L
P
L
1
Points 90 [Total 6678]| Ratings 1| Comments 80| Invitations 0|Offline
S
Points 87 [Total 102]| Ratings 0| Comments 87| Invitations 0|Offline
S
L
Points 73 [Total 1634]| Ratings 0| Comments 73| Invitations 0|Online
S
Points 63 [Total 445]| Ratings 0| Comments 63| Invitations 0|Offline
S
Points 50 [Total 52]| Ratings 0| Comments 0| Invitations 5|Offline
Home | Contact | Blog | About | Terms | Privacy | Social | ©2014 Purple Inc.