One Characteristic of Cattle That Makes Them Unsuitable as a Medium

question 134

True/False

One characteristic of cattle that makes them unsuitable as a medium of exchange is that they are not easily divisible.

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Definitions:

Variable Cost

Refers to expenses that vary directly with the level of production or output, such as raw materials and labor costs.

Total Cost

The full price of manufacturing that incorporates both stable and changing expenses.

Diminishing Marginal Product

The economic principle stating that, holding all else constant, as more of a certain input is employed in a production process, the incremental increase in outputs will eventually decrease.

Bushels of Wheat

A unit of measure used in agriculture, particularly in the United States, for trading and pricing wheat.