Question: 1. Why do people in some countries keep using things other than coins or bills for money? 2. As noted in the case, a variety

1. Why do people in some countries keep using things other than coins or bills for money?
2. As noted in the case, a variety of items are used for money. To what extent does each item satisfy the four characteristics that money should possess?
3. Discuss the advantages and disadvantages of eliminating the penny in Canada. Why do you think the United States has resisted this move and the move to replace the US $1 bill?
4. Why is the barter system generally considered to be inferior to the use of money? Are there some ways in which the barter system may be superior?

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1 Perhaps the biggest reason is tradition inertia Once a system is in place it is easier to keep using it than to make all the decisions that are necessary in order to change to a completely different ... View full answer

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