Post
Topic
Board Economics
Re: Money vs Barter
by
wxa7115
on 30/09/2018, 01:34:59 UTC
Money is one of the important concepts, This section talks about money from the perspective of microeconomics.when people exchange goods and services without using money, this is called barter. "I'll cook dinner if you'll do the dishes" is an example of barter. Imagine an economy in wich i can sell services as a consultant to banks, but what i want is to buy a new suit. the clothing store that sell suits does not have any use for my services as a banking consultant. i sell consulting services for money, and i buy a suit using money. money serves as a medium of exchange. the bank does not sell suits. how can barter work?
This is why money is such a great invention, before the existence of money it was very difficult to price stuff the right way because there was not a unit that everyone accepted as a medium of exchange, so it was very difficult to tell what was more valuable a chicken or a fish? So money has been one of the greatest factors when it comes to human development can you imagine how slow the economy will have to move if everyone needed to barter for everything that they needed?

I'm sure that if we still had barter instead of a form of money we will not have computers today and we will not be communicating in this forum, that is why bitcoin is so revolutionary, bitcoin is going to change all aspects of society for the better.