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.

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matysteven3503 matysteven3503

11-03-2022
Business

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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.

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ewomazinoade ewomazinoade · Answer 1 · 2022-03-24T11:31:51+01:00

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.

What is money?

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

What are the functions of money?

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.

What is barter?

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.

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