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GREYUIT [131]
3 years ago
9

g Money is best defined as whatever serves society in three functions: medium of exchange, store of value, and unit of account.

whatever the government allows money to be. paper bills and coins. Barter is best defined as a situation where two individuals each want some or service that the other can provide. literally trading one good for another without using money. an informal market such as a flea market. A double coincidence of wants is a situation in which money is used to facilitate economic transactions. a situation where two individuals each want some or service that the other can provide. literally trading one good for another without using money.
Business
1 answer:
worty [1.4K]3 years ago
7 0

Money is best defined as whatever serves society in three functions: medium of exchange, store of value, and unit of account.

Barter is best defined as a situation where two individuals each want some or service that the other can provide.

A double coincidence of wants is a situation where two individuals each want some or service that the other can provide.

<h3>What is money?</h3>

Money is anything that is  accepted by the general public as a means of payment for products and for repayment of debt.

<h3>What are the functions of money?</h3>
  • Medium of exchange : money can exchanged for goods and services.
  • Unit of account : money can be used to determine the value of goods and services
  • Store of value : money can retain its value over the long term.

<h3>What is barter?</h3>

Barter is when people exchange goods with goods. For barter to occur, there has to be a double coincidence of wants. This means that someone has to have what you want and that person wants what you have.

To learn more about money, please check: brainly.com/question/940436

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Why should you take pictures of your most valuable possessions? (insurance question)
Anna [14]

Answer:

Because if you were robbed and you wanted to show the police the items you lost you could present to them those photos.

If you were also renting out a room to someone and they went snoopin around and broke or stole some of those possessions you can have evidence in court.

Hope it helps! :)

4 0
3 years ago
The buying decision is likely to be most complex and take longest to complete in a(n) ________ B2B buying situation.
konstantin123 [22]

The buying decision is likely to be most complex and take longest to complete in a new buy B2B buying situation.

<h3>What Is the New Buy Situation ?</h3>

In a NEW BUY situation, the buying center is likely to proceed through all six steps in the buying process and involve many people in the buying decision.

A new buy situation occurs when the customer buys goods or service for the first time. Because of this, the buying decision is quite involved to the extent of going through the six steps of the buying process.

The three types of buying situations are;

  • new buys.
  • modified rebuys.
  • straight buys.

For example, in the new buy situation, a single organization is the first to buy a particular product or service, Hence, we would expect the provision of more product and service descriptions than in a straight rebuy situation where the organization is already familiar with the products and just simply reorders an existing product or service from preferred suppliers.

Therefore, we can conclude that the correct option is C.

Your question is incomplete, but most probably your full question was:

a. modified rebuy

b. straight rebuy

c. new buy

d. adapted buy

e. generic buy

Learn more about B2B Buying on:

brainly.com/question/14774623

#SPJ4

7 0
2 years ago
Under monopolistic competition, a firm's ability to influence the price of the product it sells arises because:
Vesnalui [34]

Answer:

The answer is because of product differentiation

Explanation:

Under monopolistic competition, the sellers' product are differentiated from one another and this gives the sellers the power to influence prices.

Like perfect competition, the market has many buyers and sellers, free entry and exit but the major difference between the two is the product differentiation.

For example in the mobile phone market, we have Samsung, Infinix, Iphones, Oppo etc. They are all mobile phones but they are different from from one another in the aspect of specifications. iPhones usually charge highest. There is customers' loyalty in this market.

8 0
4 years ago
ABC Bank requires a 20% down payment on all home loans. If a house is
AnnyKZ [126]

Answer:i think C

Explanation:

8 0
3 years ago
Thom owes $5,000 on his credit card. The credit card carries an APR of 17.3 percent compounded monthly. If Thom makes monthly pa
blagie [28]

Answer:

39 months

Explanation:

loan balance $5,000

APR = 17.3% compounded monthly / 12 = 1.44167% monthly interest rate

monthly payment = $170

if we use the present value of annuity formula:

PV = payment x ({1 - [1/(1 + r)ⁿ]} / r)

5,000 = 170 x ({1 - [1/(1 + 0.0144167)ⁿ]} / 0.0144167)

29.4118 = {1 - [1/(1.0144167)ⁿ]} / 0.0144167

0.42402 = 1 - [1/(1.0144167)ⁿ

1/(1.0144167)ⁿ = 0.57598

1.0144167ⁿ = 1 / 0.57598 = 1.73617

n log1.0144167 = log1.73617

n 0.00621639 = 0.2395926

n = 0.2395926 / 0.00621639 = 38.54 ≈ since the payments must be made in full months, we have to round up to 39 months

to check our answer:

PV = payment x ({1 - [1/(1 + r)ⁿ]} / r)

PV = 170 x ({1 - [1/(1 + 0.0144167)³⁹]} / 0.0144167)

PV = $5,044.36

6 0
3 years ago
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