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Figure 11.1
-What is group "c." in the key shown in Figure 11.1?
Unit Of Account
A common unit for measuring the value of each good or service.
Store Of Value
Anything that retains its purchasing power over time.
Double Coincidence
Double Coincidence is a term used in economics to describe a situation where two parties each hold an item the other wants, allowing for an exchange without the need for a common medium of trade, like money.
Barter System
An ancient method of exchange where goods and services are traded directly for other goods and services without using money.
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