the confiedence you havethat a retailer will accept dollars in exchange for goods is based primarliy on money being a unit of accoutn being a medium of exchange
Added by Emilia B.
Step 1
This means that money is widely accepted in transactions for goods and services, allowing people to trade without the need for bartering. Show more…
Show all steps
Your feedback will help us improve your experience
Lijeesh Krishnan and 80 other Microeconomics educators are ready to help you.
Ask a new question
Labs
Want to see this concept in action?
Explore this concept interactively to see how it behaves as you change inputs.
Key Concepts
Recommended Videos
Lijeesh K.
Rashmi S.
Recommended Textbooks
Principles of Economics
Principles of Microeconomics for AP® Courses
Economics
Transcript
18,000,000+
Students on Numerade
Trusted by students at 8,000+ universities
Watch the video solution with this free unlock.
EMAIL
PASSWORD