The bitcoin phenomenon has been much in the news recently, so this boxed insert should be of
Question:
The bitcoin phenomenon has been much in the news recently, so this boxed insert should be of interest to students. The first critical thinking question also gives them an opportunity to apply some theoretical ideas about money to the actual practice that has developed with respect to bitcoin.
1. What are the four basic characteristics of money? How well does bitcoin fit these characteristics?
2. What are the three functions of money? How does bitcoin rate in terms of each of these functions?
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1 The four basic characteristics of money are portability money should be light and easy to handle divisibility money should be divisible into smaller ...View the full answer
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Related Book For 
Business Essentials
ISBN: 978-0134000091
8th Canadian Edition
Authors: Ronald J. Ebert, Ricky W. Griffin, Frederick A. Starke, George Dracopoulos
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