Little of Classroom Learning Is Observational

question 22

True/False

Little of classroom learning is observational.

---

Definitions:

Fiat Money

Currency that a government has declared to be legal tender, but it is not backed by a physical commodity.

Intrinsic Value

The true, inherent, and perceived value of an asset, not necessarily reflected in its current market price.

Medium Of Exchange

is anything widely accepted as a means for payment of goods and services, facilitating trade by avoiding the limitations of barter.

Economic Efficiency

A state in which every resource is optimally allocated to serve each individual or entity in the best way while minimizing waste and inefficiency.