Commodity Money.

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Commodity Money. Money as a medium of exchange first came into human history in the form of . commodities, A great variety of items have served as . money at onetime or another: cattle. olive oil. beer or wine, copper. iron, gold silver, diamonds, and cigarettes. Each of the above has advantages and disadvantages Cattle are not divisible into small […]

Barter

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Barter In an early textbook on’ money. when Stanley Johnson wanted to illustrate the tremendous leap forward that occurred as societies introduced money. he used the following experience. When counted. her share was found to consist of three pigs. twenty.three turkeys. forty-four chickens. five thousand coconuts, besides considerable quantities of bananas, lemons, and oranges Paris this amount of live stock […]