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Cloud [144]
3 years ago
11

How did the invention of money as a medium of exchange affect the barter system?

Business
1 answer:
sergiy2304 [10]3 years ago
4 0

The barter system is a form of trading in which goods are exchanged directly for other goods without the use of money or as an intermediary, without a medium of exchange. The invention of money supplemented the barter system by providing a nonperishable medium of exchange.

You might be interested in
4. Study Question #4 Ch 7. Why are developing nations concerned with commodity price stabilization? Check all that apply. Improv
iragen [17]

Answer:

Developing nations are concerned with commodity price stabilization because of the following reasons

  1. There are high price elasticity of supply and demand for many commodities
  2. Developing economies are often highly dependent on the export of just one or a few commodities.

Explanation:

In recent decades there has been growing concern about the sharp fluctuations of primary product prices, the effects of those fluctuations on particular groups of producers and particular countries, and the measures which might be taken to reduce or offset the fluctuations.

Producing countries have been dominated by proposals for stabilizing world prices of commodities, in particular via the establishment of a “Common Fund” within the framework of UNCTAD's Integrated Program for Commodities.

However, developing nations are concerned with commodity price stabilization because of the two reasons provided above which could result in inflation and deflation.

7 0
3 years ago
GenBrands, a foreign maker of washing machine tubs and pumps, sells its parts to several washing machine manufacturers in the Un
Leya [2.2K]

This is called private branding (or private labeling)

For better understanding, we have to understand what the term private branding (or private labeling) means

  • Private branding (or private labeling) is simply known as when a company produces a particular product and thereafter sells the product to a retailer who later on resells it after registering or branding it under its own name.
  • An example is when Povlix watch maker make watches for Pinnacle to sell as its Nacles watch.
  • A brand  is often regarded as the name,design etc that set apart an organization or product from other companies (mostly its rivals) in the eyes of the customer.

From the above, we can therefore say that the answer that this is called private branding (or private labeling) is correct

Learn more about private branding (or private labeling) from:

brainly.com/question/17372249

6 0
2 years ago
Limitations of GDP Although GDP is a reasonably good measure of a nation's output, it does not necessarily include all transacti
snow_tiger [21]

Answer:

The following scenarios are either not accounted for or measured inaccurately by either the income or the expenditure methods of calculating GDP for the United States

B) The costs of overfishing and other overly intensive uses of resources.

C) The value of baby-sitting services, when the babysitter is paid in cash and the transaction isn't reported to the government.

D) The leisure time enjoyed by Americans

Explanation:

GDP is a tool that is used to measure a nation's economic performance, However, it has limitations due to its exclusion of non-market transactions.

  1. The limitations identified can be summarized as:
  2. GDP does not incorporate any measures of welfare.
  3. GDP only includes market transactions.
  4. GDP does not describe income distribution.
  5. GDP does not describe what is being produced.
  6. GDP ignores externalities.

6 0
3 years ago
Haynes, Inc. obtained 100 percent of Turner Company's common stock on January 1, 2017, by issuing 10,000 shares of $10 par value
saveliy_v [14]

Answer:

a. $848,000

b. No

Explanation:

a. The calculation of consolidated equipment balance as of December 31, 2018 is shown below:-

Consolidated equipment balance = Equipment balance of Haynes + Equipment balance of Turner + Allocation based on fair value - Depreciation

= $500,000 + $300,000 + $5,000 - (($5,000 ÷ 5 × 2)

= $500,000 + $300,000 + $5,000 - $2,000

= $848,000

2. No it will not affect by the investment method applied by the parent.

6 0
3 years ago
Which of the following concepts requires that economic data be recorded in dollars in the United States?
s344n2d4d5 [400]

Answer:

Unit of measure concept  

Explanation:

The definition for a unit of measure refers to a common principle used throughout accounting, whereby all activities should be reported uniformly using the same currency. For instance, a business that holds its documents in just the U.S. will report its whole dealings in U.S. dollars, whereas a German company will report all its payments in euros.

If a transaction includes transactions or transfers in another currency, the sum is translated until being registered to the domestic currency utilized by an entity. Without a specific standard unit, financial reports will be impossible to generate.

4 0
3 years ago
Read 2 more answers
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