Ask Question
BusinessBusiness
14 September, 20:58

In the Yap civilization of the South Pacific prior to 1920, large, heavy stones in the shape of a wheel were used as money. Which function of money was probably least served by this form of money?

+4
Answers (1)
  1. 15 September, 00:41
    0
    medium of exchange

    Explanation:

    The four functions of money are:

    Medium of exchange : money must be widely accepted and used as a means to exchange goods. Unit of account : the price of goods is set in money units. Store of value : money can be saved because it keeps its value. Standard for deferred payments: you can borrow money and pay it back at a future date.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “In the Yap civilization of the South Pacific prior to 1920, large, heavy stones in the shape of a wheel were used as money. Which function ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
Winners and losers from free tradeConsider the market for meekers in the imaginary economy of Meekertown. In the absence of international trade, the domestic price of meekers is $23. Suppose that the world price of meekers is $24.
Answers (1)
True or false: to promote stability in commodity markets, international commodity agreements have relied on production and export controls, buffer stocks, and multilateral contracts.
Answers (1)
What economic activities are not included in GDP?
Answers (1)
Match the following statements to Involves acquiring the resources necessary to run the business. appropriate terms. Distributions of cash from a corporation to its stock holders. select an appropriate term Consumed assets or services.
Answers (1)
Smithson Corporation had a 1/1/20 balance in the Allowance for Doubtful Accounts of $30,000. During 2020, it wrote off $21,600 of accounts and collected $6,300 on accounts previously written off.
Answers (1)
New Questions in Business
On March 1, 2017, Boyd Company acquired real estate, on which it planned to construct a small office building, by paying $80,000 in cash.
Answers (1)
A. Assume that the risk-free rate is 8 percent, the required rate of return on the market (or an average-risk stock) is 13 percent, and the required rate of return on Acme Healthcare stock is 15 percent.
Answers (1)
taxes: a. are unlikely to affect market supply and demand b. are copmulsory payments to governments c. never affect efficiency in the allocation of resourcesd. are voluntary payments to governments
Answers (1)
Mycenaean Greece became more powerful after a. creating trade networks with Egypt b. war with Persia. c. destruction of Crete d. political consolidation in. the Dark Ages
Answers (1)
An increase in the reserve requirement increases reserves and decreases the money supply. a. true b. false
Answers (1)
Home » Business » In the Yap civilization of the South Pacific prior to 1920, large, heavy stones in the shape of a wheel were used as money. Which function of money was probably least served by this form of money?
Sign Up Forgot Password?