Many Societies Used Gold as Money,because

question 53

Multiple Choice

Many societies used gold as money,because

• A)it is relatively rare.
• B)it is durable.
• C)it has a relatively low melting point.
• D)All of the above are correct.

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Definitions:

Rationally

Making choices that are consistent and in line with one's self-interest, guided by the use of reason and available information.

Sealed-Bid

A type of auction or tender where bidders submit confidential offers, and usually, the highest bid wins without the bids being disclosed to other participants.

Second-Price Auction

In a second-price auction, the highest bidder wins but pays the price bid by the second-highest bidder, encouraging participants to bid their true value.

Expected Revenue

The anticipated amount of money a business expects to receive over a certain period, usually as a result of sales or services.