All categories

3 years ago

Why is representative money more useful than commodity money?

Business

2 answers:

love history [14]3 years ago

8 0

<span>Representative money is portable, durable, divisible, and acceptable.</span>

tatuchka [14]3 years ago

8 0

Before the invention of money, people exchanged the goods produced. For example, a corn producer traded with a sugar beet producer. This means that each commodity has an intrinsic value. The problem is that this value is difficult to predict. Representative money has emerged as a way of facilitating trade. Money has peculiar characteristics that differ from commodities. Money is easily carried, highly divisible and accepted by everyone. Since the creation of money, it has become easier to market goods and services.

You might be interested in

Scarbrough Corp. factored $600,000 of accounts receivable to Duff Corp. on October 1, year 2. Control was surrendered by Scarbro

Illusion [34]

Answer:

c.$538,685

Explanation:

Calculation to determine what Scarbrough will receive and record cash of

Receivables $600,000

Less: Amount of the hold back ($30,000)

($600,000 x 5%)

Less: Withheld as fee income ($18,000)

($600,000 x 3%)

Less: Withheld as interest expense ($13,315)

($600,000 × 15% × 54/365)

Cash $538,685

Therefore Scarbrough will receive and record cash of: $538,685

5 0

3 years ago

What are employers required to provide on all motor vehicles

Sidana [21]

they are supposed to provide a gas card

8 0

3 years ago

Read 2 more answers

Suppose that, in a competitive market without government regulations, the equilibrium price of donuts is $1.00 each.Complete the

deff fn [24]

Answer:

Government Legal minimum price = $1.20 is case of 'Binding Price Floor'

Explanation:

Price Floor is the minimum base benchmark for price of a good or service. It is usually 'binding' i.e below the equilibrium price, is done to protect the producers from under pricing, based on free market forces. Example : Minimum Support Price for farmer's agricultural products.

In this case, the price floor (minimum mandated price) is in labour market for price of labour i.e wages. It is binding also, since it imposes the minimum price (wage) floor at - wage level greater than the wage as per free market demand & supply forces. Also, it is in interest of sellers (labour sellers here) analogous to farmers MSP previous example.

8 0

3 years ago

The British Parliament attempted to regulate trade with the colonies through the:

ASHA 777 [7]

Answer: Navigation acts

Explanation: Navigation act was a group of laws, first implemented by the British parliament in 1651. This act was implemented by the Britishers with the objective of regulating activities of shipping, trade and commerce with their colonial countries.

These acts were re-enacted in 1660. These were implemented by the England for increasing their profits in international market.

3 0

3 years ago

Bramble Corp. purchased a delivery truck for $38,800 on January 1, 2019. The truck has an expected salvage value of $1,800, and

Debora [2.8K]

Answer:

Depreciable cost per mile= $0.37

Explanation:

Giving the following information:

Purchase price= $38,800

Salvage value= $1,800

Expected to be driven 100,000 miles over its estimated useful life.

<u>To calculate the depreciable cost per mile, we need to use the following formula:</u>

Depreciable cost per mile= (original cost - salvage value)/useful life of production in miles

Depreciable cost per mile= (38,800 - 1,800)/100,000

Depreciable cost per mile= $0.37

6 0

4 years ago