3.1 Money Answers

What does it mean to say that money is divisible?

Money replaces the need for bartering because it creates an easy way to analyze, exchange, and store value. As a medium of exchange, money allows us to easily trade value for a product we want to purchase. Because money is a unit of account, we can assign a dollar value to products. Finally, because money allows us to store value, we can accumulate value over time. In each case, we have more options than bartering would provide.

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