ECONOMICS
MONEY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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acceptability
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uniformity
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limited supply
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durability
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Detailed explanation-1: -In the 1990s, the Russian people lost confidence in the value of the ruble, and many were no longer willing to sell goods and services in exchange for Russian currency. Which characteristic of money did the Russian currency lack? Acceptability.
Detailed explanation-2: -In a Barter system, only goods and services are exchanged without any involvement of money. Hence exchanging a cup of oil for a cup of pulses is an example of barter system where goods are exchanged . This is an example of Bartering.
Detailed explanation-3: -United States money today is fiat money, which has value because a government has decreed that it is an acceptable means to pay debts.
Detailed explanation-4: -How did the United States government make the American public have confidence in the nation’s currency in the 1870s? The government permitted state-chartered banks to issue currency.