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Answer to Question #150332 in Microeconomics for Bashiru Mohammed

Question #150332
Discuss how the Hicksian definition of money addressed all the difficulties experienced under the
barter economic system
1
Expert's answer
2020-12-14T05:14:42-0500

The problem with the barter economy is that both participants in the barter question the fairness and equivalence of the barter. Money is a universal medium of exchange and shows the participants in the exchange the fairness of the transaction.


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