Examlex
List and briefly discuss the three main parts of the world system according to world systems theory.
Medium of Exchange
An instrument or system used to facilitate the sale, purchase, or trade of goods between parties, typically money in modern economies.
Store of Value
An asset that can be saved, retrieved, and exchanged in the future without depreciating significantly.
Fiat Money
Paper money that is not backed by or convertible into any good; it is money because the government says it is money.
Medium of Exchange
A facilitating device or arrangement employed to assist in the transactions of buying, selling, or trading items between entities.
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