What challenges would you face if we lived in a society without money and would require a barter system and  How would these challenges impact your ability to choose what products and services you purchase, as well as what brand or provider you use for those 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: What are the advantages of an economy using money as opposed to a barter system of exchange?

A: Money can be defined as any good that is widely accepted for purpose of exchange and repayment of…

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: 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: A bank can make profit by: a)borrowing money from the government at 0% interest. b)giving you a…

A: Banks generate profits primarily through the intermediation process, where they accept deposits from…

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: one method to spend more money is to deduct an amount automatically from your salary in a direct…

A: The direct deposit system refers to the system that allows banks to transfer a specific amount…

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: True or false question: Making minimum payment will result in paying off your cards eventually?

A: Credit cards are a type of payment card that allows the holder to borrow funds from a financial…

Q: In our daily life we use credit cards and debits cards for payments. Are credits cards considered…

A: Anything that is extensively used as a medium of exchange and accepted as payment is considered to…

Q: What is the sharing economy phenomenon? Give a thorough explanation!

A: It is economic system define peer to peer base  It also incluse buissness to buissness intraction…

Q: A cash item in the process of collection is a U.S. Treasury bill that has matured, but for which the…

A: A cash item in the process of collection refers to funds that a bank is in the process of collecting…

Q: How would you determine the interest rate that the bank charges on the transaction?

A: Many payments are made through our bank accounts and each transaction has a cost attached to it. The…

Q: Evaluate the most significant security problems associated with the web. Explain which threats…

A:

Q: Explain 3 reasons why opening a checking account would benefit you?

A: A checking account refers to a type of bank account that allows you to deposit money and withdraw…

Q: Is barter becoming more or less prevalent in the US economy? Why?

A: Money didn't exist once upon a time. People would simply request the items they wished, and in…

Required Reserve and Excess Reserve Analysis

A required reserve is an amount of cash that banks must keep with themselves, which is certain percentage of the deposits made by their customers. Required reserve is a percentage of the bank's deposits that the respective bank must have on each overnight. The percentage rate is set and determined by the nation’s central bank. It is important to have such funds accumulated to meet its uncertain obligations, sudden liabilities and withdrawals. Required reserve is also known as reserve ratio. Reserve ratio is an important tool to control the money supply.