close up shot of a bitcoin

The exchange of goods and services prior to money is known as ___________.

  • barter

What is a monetary good?

  • A good used for exchange, not for consumption

What are some examples of an easy money?

  • Shells
  • Beads
  • Fiat

What do we look for when looking at the scarcity of a monetary good?

  • A limited supply

What are some key traits of a monetary good?

  • Portability
  • Divisibility
  • Acceptability

What does censorship-resistant money look like?

  • No one party can censor any users

What are the objectives of a good money?

  • Store of value
  • Unit of account
  • Medium of exchange

If a monetary good can be used to price other goods, it is considered a successful ___________.

  • unit of account

If a monetary good can be stored for a long period of time without losing value, it is a good ________________.

  • store of value

Our current money is _____ money.

  • fiat
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