Answer: See explanation
Explanation:
Money is anything that is used to make payments and transactions. A sheep, shirt and a snickers bar are a poor form of money as they don't have the characteristics of what money should be.
Some of the characteristics of money include portability, acceptability, divisibility, durability, uniformity and limited supply.
A sheep, shirt and a snickers bar cannot be used as money because they can be produced in excess as they can have unlimited supply. Also, a sheep is heavy and doesn't follow the characteristics of portability.
Also, a cloth and snickers bar isn't durable as they can spoil easily. Also, they cannot be divided into smaller denomination. Therefore, the divisibility characteristics isn't followed.
In conclusion, they are bad form of money.
Because traditional economies are characterized as being primarily agricultural, they are prone to stagnation since they rely heavily on weather, which can be unpredictable and pragmatic.
Think of it like this. If you could get a new cell phone for ten bucks, you'd want it, right? In fact, pretty much EVERYONE would want it. This means the quantity demanded will be high: more people want it. BUT, if it goes up to $1,000, I bet you wouldn't want it that badly! The quantity demanded will go down, because less people want to buy it. It's the same thing with the chocolate bar. Since the price goes up, the quantity demanded will go DOWN, because less people want to buy it now that it's more expensive. The student's answer is incorrect.
Answer: The student's answer is incorrect. Since the price goes up, the quantity demanded will go down.
Answer:
We the People of the United States, in Order to form a more perfect Union, establish Justice, insure domestic Tranquility, provide for the common defence, promote the general Welfare, and secure the Blessings of Liberty to ourselves and our Posterity, do ordain and establish this Constitution for the United States of America.
Explanation:
