User Account

All Pages

How does existence of money reduce costs of transactions

Assignment Help Microeconomics
Reference no: EM131685369

Question: How does the existence of money reduce the costs of making transactions, relative to a society based entirely on barter? English is becoming the usual language for international transactions, even if the language of neither country is English. How does this reduce the costs of transacting?

Reference no: EM131685369

Questions Cloud

Discuss understanding of biogeographic processes : Describe several ways in which paleoenvironmental techniques have contributed to our understanding of biogeographic processes
Why might the school administration make trades illegal : We would both be better off after a trade in which you paid me $100 for my permit and in return I used yours.
Define the concept of an integrated physician model : Define the concept of an integrated physician model. Explain the importance of clinical integration in the strategic planning process.
Why does longo use salespeople instead of price tags : Why does Longo use salespeople instead of price tags? Why not just offer cars at a fixed discount under the sticker price? Or why not be like the General.
How does existence of money reduce costs of transactions : How does the existence of money reduce the costs of making transactions, relative to a society based entirely on barter?
Describe the use of an availability heuristic : Consider the following six causes of death: Lung cancer, vehicle accidents, emphysema, homicides, tuberculosis, and fires.
Discuss global warming potential of methyl chloroform : What are the 20, 100, and 500 year global warming potential of methyl chloroform
Explore and discuss-politics with developed thinking : Choose four out of the five areas to explore and discuss: Politics, Race, Class, Gender, Sexuality with fully developed thinking and citation support.
Find number of qualified people for the donations : Most applicants win admission to selective colleges on their academic skills. Prestigious universities do, however, admit some less qualified people.

Reviews

Write a Review

Microeconomics Questions & Answers

  Design a contract for both of the managers

Can you design a contract for both of the managers that can help the principal implement their preferred option

  Summarize the movements in the yuan-dollar exchange rate

Go to the Web site of the Federal Reserve Bank of St. Louis Federal Reserve (FRED) (research.stlouisfed.org/fred2/) and find the values for the China/U.S. Foreign Exchange Rate (DEXCHUS) from 1981 to the most recent date available. Compared with i..

  What must be true about the price elasticity of demand

According to the author of the article: "For this publisher, that means less revenue and less profit as some buyers reject the more expensive books." Does the fact that some buyers will no longer buy the publisher's books at a higher price necess..

  Calculate the profit-maximizing price

A pharmaceutical firm has a monopoly on a new class of vasodilator. The market demand is given by P=240-0.01*Q, and thus MR=240-0.02*Q. The monopolist's marginal cost is constant and equal to 20. Calculate the profit-maximizing price.

  Find the cournot-nash equilibrium

Find the Cournot-Nash Equilibrium. Calculate the profits of each firm at this equilibrium.

  Evaluate the role and the effectiveness of the federal

Evaluate the role and the effectiveness of the Federal Reserve in stabilizing the current economy.

  Explain shortage and surplus in market

a.) Illustrate using a fully labeled supply and demand graph (label all the axes and any lines you put in your graph) what such an artificial price looks like. b.) Explain what the results of such a move are for the graham cracker market. ..

  What is the average duration of unemployment

As a percentage of the unemployed, what is the size of the total flows out of unemployment each month? What is the average duration of unemployment?

  What kinds of costs are involved in making a decision

Why might a profitable motel shut down in the long run if the land on which it is located becomes extremely valuable due to surrounding economic development? What kinds of costs are involved in making a decision to shut down?

  Neoclassical economics was a crucial stage in the creation

neoclassical economics was a crucial stage in the creation of a genuinely scientific unified theory of economic

  Derive and solve the relevant differential equation

The demand and supply functions in a competitive market are Qd = 280 - 4P and Qs = -35 + 8P.

  What one can expect from managerial economics class

What one can expect from managerial economics class? How will one can contribute towards the success of the class and what are the expectations from other fellow students and the instructor?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd