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Bess [88]
3 years ago
7

101d Discuss whether or not gold rings can carry out the functions of money. (8)​

Business
1 answer:
lana66690 [7]3 years ago
8 0

Answer:

Money is called any element that works in a given territory as a method of exchange of wealth and as a reserve of value, that is, it can be exchanged between individuals for other goods, and that in turn can be accumulated by each individual to add to your personal wealth. In this context, almost any item that has been commonly accepted as having these characteristics can be considered money. However, there are circumstances in which, either due to their lack of storage practicality, or their high value in itself, certain elements escape this possibility. This is the case of a gold ring, whose excessively high value and the impossibility of its fractionation take away the possibility of being used as a method of exchange.

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