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The Evolution of Money
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The Evolution of Money

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Questions and Answers

What is the purpose of money as described in the text?

  • A unit of borrowing and lending
  • A store of perishable goods
  • A medium of exchange (correct)
  • A method of bartering

    • What was a major issue with the bartering system as mentioned in the text?

  • Difficulty in finding products to exchange
  • Inability to determine the value of goods (correct)
  • Lack of interest in bartering
  • Products losing value over time

    • Which characteristic of money allows it to hold value over time?

  • Portability
  • Durability (correct)
  • Divisibility
  • Acceptability

    • What is the role of money in enabling borrowing and repayment?

    <p>Enabling people to buy things and pay back over time</p> Signup and view all the answers

    What is a key feature of money for it to function as a medium of exchange?

    <p>Intrinsic value</p> Signup and view all the answers

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