General purpose vs. special purpose money

Reference no: EM13517835

Beginning with (a) the distinctions between general purpose vs. special purpose money, and an explanation of what transpires in market exchange using currency, (b) define barter, in terms of transaction and opportunity costs, and (c) explain how and why both (a) and (b) co-exist in the villages and marketplaces surrounding Lake Titicaca.

Reference no: EM13517835

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