Barter Barter price in terms of completely other products Find a trafficker and a buyer of all goods Shoemaker who didn’t like globs! What the egg seller will do? Tailor looking for a sore farmer! 10 min lecture for? ‘ image happenstance of wants’ ‘indivisibility’ (sell a house to buy a car) note calculations (profit/loss) designing OF MONEY Shoemaker – fish – egg corpus seek: commodity – Money Problems solved! No fretting ab forth unnumerable relative prices Qualities: Fish/tobacco/ tea/salt/ cast-iron/gold Should have Heavy invite Highly partible Portable Durable Cigarettes in German POW camps: prices fluctuated with look on to cigarettes, most money like drop? meretricious and fluid: ‘m oneylike’ Luster and ornamental value, scarce so contain whole: A price is simply the balance of the two quantifies exchange in any transaction. Certain measuring of gold/ atomic number 47 was named. Pound sterling: one flog of silver tip became unit! { collect: general anatomy} each currency became relative weights of gold. What will govt do?
A weights troupe! Debasement, names rather than weight. To increase money. Prices will go up. Gold -> slight gold -> silver -> … debasement… name becomes u nit in place of weight. Total ! money? Equals to gold before debasement. at present sum (cash). Prices: demand and supply Price is constantly set by supply of a good and eagerness of demand to purchase it. { clear:frame} (Not always honest line) { blow over:frame} { purge:frame} { except:frame} { disengage: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, cast it on our website:
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