select the correct answer. in a remote village, a person used five beaver pelts to buy a bag of rice and two…
select the correct answer. in a remote village, a person used five beaver pelts to buy a bag of rice and two beaver pelts to buy a pair of shoes. for what purpose did this person use the money? a. increase trade b. store of value c. medium of exchange d. unit of account e. investment
Answer
Brief Explanations:
The person used beaver - pelts (a form of money in this context) to buy rice and shoes. This is an example of using something as a medium to facilitate the exchange of goods. A medium of exchange is something that is used to trade for other goods and services. Here, beaver - pelts are being used to obtain rice and shoes, fulfilling the role of a medium of exchange.
Answer:
C. medium of exchange