. Explain Silent barter in brief.
Q: If you write a cheque on a bank in Saskatoon to purchase a new Nissan Murano, you are employing…
A: Money is one of the most important medium to buy goods and services, pay expenses and debts, etc.…
Q: A barter economy is an economy where goods and services are exchanged for money. money is exchanged…
A: Barter system is the system where goods and services are exchanged for the other goods and services.…
Q: There would be very few comedians in a barter economy. Do you agree or disagree with this…
A: The money is used as the medium of exchange in the modern market systems but the case was not the…
Q: Why (not how) did money evolve out of a barter economy?
A: A market system with exchange of goods and services with goods and services is known as barter…
Q: As early as the year 1000 CE, nigeria used silver and other metal coins as currency. This is an…
A: Commodity money is the money that as certain intrinsic value. The intrinsic value is derived from…
Q: The use of money as a medium of exchange represents the most important service that money renders.…
A: The use of money as medium of exchange is an important function because it eliminates the problem of…
Q: Personal possession of currency is prohibited in U.S. prisons, although, in practice, prisoners…
A: Intrinsic value is a measure of what an asset is worth. Intrinsic value of money refers to the…
Q: What is barter system in an economy and what are its drawback!
A: According to the given question Actually before the evolution of given money goods were actually…
Q: Explain why this following statement is true or false? a) Money requires double coincidence of…
A: Money is the medium of use as a payment after purchasing the products or services.
Q: Bartering is represented by which of the following? A parent gives a teenager a $10 bill in exchange…
A: Bartering is a process by which goods or services are directly exchanged for other goods or services…
Q: What is a barter system in any economy and what are its drawbacks??
A: Definition: A barter system is called an old method of exchange. This system has been rehearsed for…
Q: When money serves as a unit of account, this means that money acts as... Select the correct answer…
A: Money is a form of asset that individuals in an economy use to buy goods and services.Money acts as…
Q: Exchanges take less time in a money economy than in a barter economy because a double coincidence of…
A: The money economy refers to the economy where the unit of currency prevalent is the money in hand or…
Q: Money functions as a medium of exchange because it is readily exchangeable for other good A) True B)…
A: Money is a system of value that facilitates the exchange of products in an economy. Using money…
Q: ersonal possession of currency is prohibited in U.S. prisons, although, in practice, prisoners still…
A: Money in itself has no intrinsic value, whereas Energy Bars do have intrinsic value, as they have…
Q1. Explain Silent barter in brief.
Step by step
Solved in 2 steps
