Principles of Economics 2e
Principles of Economics 2e
2nd Edition
ISBN: 9781947172364
Author: Steven A. Greenlaw; David Shapiro
Publisher: OpenStax
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Chapter 27, Problem 21CTQ

The Bring it Home Feature discusses the use of cowrie shells as money. Although we no longer use cowrie shells as money, do you think other forms of commodity monies are possible? What role might technology play in our definition of money?

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Before the introduction of money, there was a system of trade called the barter trade. Discuss the importance of barter trade in relation to the time it existed?
Before the introduction of money, there was a system of trade called the barter trade. Discuss the importance of barter trade in relation to the time it existed.?   Do you think barter trade in spite of the use of money today holds any value in modern times?   What is money?
Despite the fact that personal possession of currency is not allowed by U.S. prisons, in reality, incarcerated people still exchange goods and services. Until 2003, the year in which the U.S. government banned smoking in federal penitentiaries, cigarettes were the preferred medium of exchange among prisoners. A main difference between using cigarettes and using dollars as money is that    have intrinsic value.   Cigarettes are an example of   money.

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Principles of Economics 2e

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