The First Step in the Evolution of Money Involved the Use

question 91

Multiple Choice

The first step in the evolution of money involved the use of _____.

• A)physical commodities
• B)barter
• C)pieces of paper representing claims on physical commodities
• D)pieces of paper with no intrinsic value
• E)electronic entries representing claims on pieces of paper with no intrinsic value

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Definitions:

Price of Clothing

Refers to the amount of money required to purchase garments and accessories.

Valuation

The process of determining the present value of an asset or company.

Indifference Curve

A graph showing different bundles of goods between which a consumer is indifferent, reflecting their preferences and trade-offs.

Slope

In the context of economics, it often refers to the rate of change or inclination of a curve or line, indicating the relationship between two variables.