Barter Barter price in terms of notwithstanding other products Find a seller and a buyer of all goods Shoemaker who didn’t like globs! What the egg seller will do? Tailor looking for a in the altogether farmer! 10 min lecture for? ‘ image semblance of wants’ ‘indivisibility’ (sell a house to buy a car) note calculations (profit/loss) blind OF MONEY Shoemaker – fish – egg corpus look for: commodity – Money Problems solved! No fretting ab pop out blank space relative prices Qualities: Fish/tobacco/ tea/salt/ constrict/gold Should have Heavy invite Highly dissociable Portable Durable Cigarettes in German POW camps: prices fluctuated with consider to cigarettes, most money like drop? meretricious and fluent: ‘moneylike’ Luster and ornamental value, scarce so get hold of whole: A price is simply the balance of the two quantifies change in any transaction. Certain measuring of gold/ bills was named. Pound sterling: one flog of silver weight down became unit! { collect: general anatomy} each coin became relative weights of gold. What will govt do?
A weights troupe! Debasement, call rather than weight. To increase money. Prices will go up. Gold -> little gold -> silver -> … debasement… na me becomes unit in place of weight. ! Total money? Equals to gold before debasement. outright sum (cash). Prices: demand and supply Price is constantly resolved by supply of a good and eagerness of demand to purchase it. { clear:frame} (Not always honest line) { trace:frame} { throw:frame} { throw away:frame} { slip away:frame} Towards equilibrium Move parallel to catch out the changes. Money and Overall Prices: Define PPM: Purchase power of money. {draw:frame} {draw:frame} PPM: {draw:frame} {draw:frame}...If you want to get a full essay, retch it on our website:
OrderCustomPaper.comIf you want to get a full essay, visit our page:
write my paper
No comments:
Post a Comment