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The functions of money include; (1) medium of exchange, (2) store of value, and (3) a calculate of worth. Due to money is acceptable as a form of payment for all commodities, barter is no longer Required. Money can be easily stored in a tin can or bank account, so commodities require not be stored and can be purchased when needed. Because money is acceptable in virtually all transactions, prices can be stated in terms of dollars or yen thereby simplifying transactions substantially. In other words, money is the grease that lubricates any difficult economic system
What are the economies and diseconomics of scale?
indifference curve and budget line
Aggregate Demand For Wheat The demand for U.S. wheat is comprised of domestic demand and export demand. The domestic demand for wheat can be given by the equation: -QDD =
please can you explainn what "down 0.1 percentage point on the quarter means"?
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Participation Rate:Proportion of working-age individuals who decide to ‘participate' in the labour force, by either being employed or actively seeking work. Precise definition of w
Cropping Pattern Over Time: The dominance of food crops and among food crops that of rice and wheat only states the existing cropping patterns. It is important to study the tr
what is modern theory
The basic concepts of price theory
What simplifying assumptions does the traditional macroeconomic model make (in addition to those made in the NIPA)? The simplifying assumptions are: 1) The household and i
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