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