Medium of exchan - Study guides, Class notes & Summaries

UNT ECON 1110 Chapters 10-12 Questions and Answers barter ANSWER the direct exchange of goods/services barter transactions ANSWER require that a double coincidence of wants be satisfied physical forms of money ANSWER - fiat - commodity fiat money ANSWER paper currency and coin that have been designated by government as legal tender but it not convertible into a specific precious metal or other commodity commodity money ANSWER - an item that serves a useful purpose other than acti...