Unit 4 study guide Flashcards
(35 cards)
1
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Describe barter and its challenges
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(def): Where goods and services are exchanged directly.
Challenges: - Double coincidence of want
2
Q
Describe primitive forms of money
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- Tea leaves (China)
- Cheese (Russia)
-Animal pelts (Americas)
3
Q
Describe the history of money in the American colonies and the early U.S. government
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3
Q
Give a quick history of how the dollar came about.
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4
Q
What is a “specie”?
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5
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Name and describe the four characteristics of money.
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