A Text Book on Money Banking
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Beschrijving
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Money is a commonly accepted medium of exchange. Economic exchanges without the arbitration of money are called barter exchanges. Barter exchanges become extremely difficult in large economies because of the high costs people would have to incur looking for suitable persons to exchange their surpluses with. Money also acts as a convenient unit of account. The value of all goods and services can be expressed in monetary units.
Beschrijving
(1)
Money is a commonly accepted medium of exchange. Economic exchanges without the arbitration of money are called barter exchanges. Barter exchanges become extremely difficult in large economies because of the high costs people would have to incur looking for suitable persons to exchange their surpluses with. Money also acts as a convenient unit of account. The value of all goods and services can be expressed in monetary units.
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