When Something Is Generally Accepted as a Means of Payment

question 146

Multiple Choice

When something is generally accepted as a means of payment, such as grain in many traditional societies, we say that this represents

• A)money as a medium of exchange.
• B)money as a store of value.
• C)money as a unit of wealth.
• D)an inflationary danger.
• E)a government opportunity for social control.

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Definitions:

Social Changes

The significant alteration of social structures and cultural patterns over time within a society.

Human Resource

The personnel of an organization or the department responsible for managing employee-related functions.

Union Responsibilities

Obligations of labor unions, including representing members, negotiating labor contracts, and protecting workers' rights and interests.

Collective Agreements

Contracts between employers and trade unions outlining terms of employment, working conditions, and employee rights.