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2 cards from this section. Quick, good the night before a test.
What primary function does money serve in transactions?
Think about how we buy and sell goods.
Define 'Unit of Account'.
Consider how we compare prices.
What is one function of money?
Think about savings.
Money eliminates the need for a double coincidence of wants.
Consider how money can be used flexibly.
Analyze a hypothetical country that entirely relies on a barter system. Discuss the potential economic impacts and challenges they might face.
Consider transaction speed and economic growth.
Evaluate the changes in consumer behavior if a society transitions to a fully cashless economy. What challenges might arise?
Think of both advantages and technology-related risks.
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