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Asked Aug 14, 2019
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What would happen if we all decided that money has no value?

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Expert Answer

Step 1

Money has a value, as it is issued by the government that is used around the world. People use the power of money to store the value or to purchase the goods along with associating it with everyday needs. The money has a value, a large number of people, agree to its value and it becomes a useful bargaining tool.

Step 2

If the money loses its value, then the people would again bargain and negotiate with some other alternative good or commodity such as gold which would hold some value to bargain. Money is a paper-like instr...

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