Barter Barter set in terms of still other products Find a vendor and a bargain forer of all goods Shoemaker who didn’t bid globs! What the egg seller for land do? cut off looking for a cutting farmer! 10 minute lecture for? ‘ image meeting of minds of wants’ ‘indivisibility’ (sell a house to buy a car) note calculations (profit/loss) excogitation OF MONEY Shoemaker – lean – egg corpus tip: commodity – M adepty Problems understand! No fretting ab forbidden unnumberable relative prices Qualities: Fish/ baccy/ tea/salt/ entreat/gold Should have solemn invite Highly cleavable Portable Durable Cigarettes in German POW camps: prices fluctuated with appraise to cigarettes, most silver like drop? meretricious and cash: ‘moneylike’ Luster and ornamental value, meagre so lead unit: A price is obviously the balance of the two quantifies change in any transaction. reliable measuring of gold/silver medal was named. Pound sterling: one flog of silver weight unit became unit! { collect: popular anatomy} each currentness became relative weights of gold. What will govt do?
A weights troupe! Debasement, label rather than weight. To increase money. Prices will go up. Gold -> little gold -> silver -> … abasement… name becomes unit in place of weight. Total money? Equals to gold before debasement. at a time sum (cash). Prices: demand and fork out Price is constantly mulish by supply of a good and eagerness of demand to purchase it. { clear: instal} (Not always honest line) { remove: sick} { slide by: couch} { prepare:frame} { suck in:frame} Towards equilibrium get going parallel to catch out the changes. Money and Overall Prices: find out PPM: Purchase power of money. {draw:frame} {draw:frame} PPM: {draw:frame} {draw:frame}...If you want to get a full essay, vow it on our website:
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