If Individuals Will No Longer Take a Currency as a Method

question 55

Multiple Choice

If individuals will no longer take a currency as a method of payment,is it still considered to be money?

• A)Yes, because the government identifies it as legal tender.
• B)Yes, because one of the characteristics of money is that it can be also used as a measure of value.
• C)No, because one of the main characteristics necessary for something to serve as money is that it must be generally acceptable.
• D)No, because it becomes just a commodity.

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Definitions:

Preoperational

A stage in Piaget's theory of cognitive development, occurring from approximately 2 to 7 years of age, characterized by symbolic thought but not yet capable of logical operations.

Second-Order Operations

Second-order operations refer to the ability to think about thoughts themselves, involving complex cognitive processes like reflection and abstraction, often developing during adolescence.

Abstract Operations

A stage of cognitive development according to Piaget, characterized by the ability to think logically about abstract concepts and hypothetical situations.

Concrete Operations

A stage in cognitive development, as described by Piaget, where children gain the ability to think logically about concrete, tangible objects and events.