ECONOMICS
TRADE EXCHANGE AND INTERDEPENDENCE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Checks
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Treasure
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Jewelry
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Coins and paper used to buying things.
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Detailed explanation-1: -Money is the paper bills and coins that people use to buy things. A merchant can easily sell their goods and pay the people they trade with by taking the money.
Detailed explanation-2: -Currency is the coin, note, object, etc. that is presented in the form of money. The basic form of money is numbers; currently, the basic form of currency is paper notes, coins, or plastic cards (e.g., credit or debit cards).
Detailed explanation-3: -Fiat money. Standard money consisting of paper currency notes and coins is called fiat money. No one can refuse to accept this money.
Detailed explanation-4: -A banknote-also called a bill (North American English), paper money, or simply a note-is a type of negotiable promissory note, made by a bank or other licensed authority, payable to the bearer on demand.
Detailed explanation-5: -It ensures your freedom and autonomy. Banknotes and coins are the only form of money that people can keep without involving a third party. You don’t need access to equipment, the internet or electricity to pay with cash, meaning it can be used when the power is down or if you lose your card.