Question: When ricky sells his used desk for $50, money is a _____.?

When Ricky sells his used desk for $50 money is a _____ medium of exchange unit of account store of value?

medium of exchange store of value unit of accoun. Then Ricky sells his used desk for $50, money is a medium of exchange.

When money is deposited in the bank for later use it is a _____?

When a money is deposited in the bank for later use, it is a store of value or may call it as savings.

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When you give your money in exchange for a good or a service you are _____ it?

Barter is an act of trading goods or services between two or more parties without the use of money —or a monetary medium, such as a credit card. In essence, bartering involves the provision of one good or service by one party in return for another good or service from another party.

When you use paper money to pay for food the money is A?

Answer: The correct answer for the fill in the blank is – medium of exchange. When we use paper money to pay for food, the money is a medium of exchange as we are exchanging our money with their food. So, it plays a role of medium of exchange in purchasing our food.

What is one counter argument to the premise that the wealth gap is a serious problem?

What is one counterargument to the premise that the wealth gap is a serious problem which needs to be addressed? The lower classes have the opportunity to invest. Poor people can easily move into the middle class. Investments by the upper class create lower-class jobs.

Which of the following is not a problem with commodity money?

Which of the following is not a problem with commodity money? value portability uniformity divisibility. VALUE is not a problem with commodity money. VALUE is not a problem with commodity money.

Which type of money would be hardest to travel with?

EXPLANATION: The commodity money is the hardest to travel with as it does not have any fixed value and has only the value of the commodity for which it is made.

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How money that you save in the bank can be channeled to an investor?

The borrower may chose to use the funds to invest in a business venture and thus be becomes an investor. Money is channeled through financial institutions such as banks. A saver saving with a bank account seeks to keep the money in the bank as it earns him interest.

How does money make trading easier?

Money makes trading easier by replacing barter with transactions involving currency, coins, or checks. People consume goods and services, not money; money is useful primarily because it can be used to buy goods and services.

How can the government reduce the wealth gap in a mixed market economy?

How can the government reduce the wealth gap in a mixed market economy? The government can control income levels by placing limits on how much citizens can earn. The government can eliminate minimum wages for workers to account for economic differences.

Is a company that owns most of its market share and can set its own price?

A is a company that owns most of its market share and can set its own price would be a “monopoly” since there seems to be little-to-no competition that exists that can drive down the price of the product.

Who benefits from the activities of entrepreneurs and how?

When entrepreneurs are successful, everyone benefits. Entrepreneurs gain profits and a growing business, workers gain more and better paying jobs, consumers benefit from new and better products, and the government benefits from the increased economic activity that leads to larger tax receipts.

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Why does fiat money have value?

Fiat money is a government-issued currency that is not backed by a commodity such as gold. Fiat money gives central banks greater control over the economy because they can control how much money is printed. Most modern paper currencies, such as the U.S. dollar, are fiat currencies.

What person or organization will usually supply goods and services?

Answer Expert Verified. Government is the organization that will usually supply goods and services when it appears that the benefits to society outweigh the costs to society. The government also defines, establishes, and enforces property rights. The two main sources of government revenue are taxes and borrowing.

What kind of money is a gold certificate considered to be commodity?

commodity fiat representative currency. A gold certificate considered to be a representative money.

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