In Order for Something to Be Used as Money, It

question 98

Multiple Choice

In order for something to be used as money, it must be _____

• A) made of paper.
• B) issued by banks.
• C) declared to be money.
• D) generally acceptable.
• E) made of something valuable.

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Definitions:

Behavior

The actions or reactions of an individual or system in response to external or internal stimuli.

Culture

The set of shared attitudes, values, goals, and practices that characterizes an institution, organization, or group.

Total Surplus

Total surplus is the sum of consumer surplus and producer surplus in a market, representing the total net benefit to society from trading in the market.

Trade

The act of buying, selling, or exchanging goods and services between people or countries, encompassing both domestic and international transactions.