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Nostrana [21]
2 years ago
15

Describe two disadvantages of early forms of money, and explain how they could have been fixed.

Business
2 answers:
Gwar [14]2 years ago
8 0

Every country had different types of coins with different values and they were not easily comparable in value with the money from the other countries.  This could have been fixed with collaboration between neighboring countries from certain areas to create same types of coins that have the same value so that they can use them easily for the trade that was occurring between the different economies.

Every craftsmen that had the skills and tools and suitable material was able to create copies of the money. This could have been fixed with strict regulations on every craftsmen by the authorities. Also putting a unique mark on the different types of coins by the official producers that was not easy to be copied.

slava [35]2 years ago
8 0
Early forms of money was made up of such things which were easily available and so the currency could be copied.
It was difficult to compare two different places currency values.
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Consider the price of gas in France to be 1.3 euros per liter. If a visitor has 50 euros, how many gallons can be purchased (the
mariarad [96]

Answer:

10.16 gallons of gas

Explanation:

To be exact, a US gallon contains 3.78541 liters.

So a gallon of gasoline contains 3.78541 liters of gasoline, which means that one gallon of gasoline costs 1.30€ x 3.78541 = 4.92€

If the visitor has 50€, he/she can purchase 50€/4.92€ = 10.16 gallons of gas

*Only the US, Myanmar and Liberia use the imperial system of measurement (e.g. miles, yards, feet, gallons, quarts, etc.) while the rest of the world uses the metric system (e.g. meters, kilometers, liters, etc.). But the US was one of the first countries in the world to formally adopt the metric system (since the 19th century), but the change was not mandatory, so most people continued to use the imperial system as part of the culture.

5 0
2 years ago
The cash register tape for Kingbird Industries reported sales of $10,032.30. Record the journal entry that would be necessary fo
siniylev [52]

Answer:

(a)

Dr Cash $10,032.30

Cr Cash Over and Short$74.90

Cr Sales Revenue $10,107.2

(b)

Dr Cash $10,148.54

CrSales Revenue$10,107.2

Cr Cash Over and Short$41.34

Explanation:

Kingbird Industries

(a)

Dr Cash $10,032.30

Cr Cash Over and Short$74.90

Cr Sales Revenue $10,107.2

($10,032.30+$74.90)

(b)

Dr Cash $10,148.54

(10,107.2+$41.34)

CrSales Revenue$10,107.2

Cr Cash Over and Short$41.34

3 0
2 years ago
Once you have collected data for a message, you’ll need to find a way to organize it. Well-organized messages group similar idea
shutvik [7]

Answer:

c. Sparkling water, evening wine tasting, four-star hotel restaurant

Explanation:

The scratch list in general includes a series of services that are provided by a Hotel (the Boston Hotel). Because of the items included in the list, it seems that the Hotel is quite fancy.

Numeral c would be a good addition to the scratch list, because it lists items that would fall in place for the type of Hotel being described: sparking water, evening wine tasting, and a the mention of a four-star hotel restaurant.

5 0
2 years ago
Pioneer Chicken advertises "lite" chicken with 30% fewer calories than standard chicken. When the process for "lite" chicken bre
zubka84 [21]

Answer:

LL = 420 -3\frac{25}{\sqrt{25}}= 405 represent the lower limit

UL = 420 +3\frac{25}{\sqrt{25}}= 435 represent the Upper limit

So then the limits for this case are (405, 435)

Explanation:

Let's define X as our random variable that represent the "number of calories for a chicken breast", and we have the following data:

\bar X = 420 , \sigma= 25

The select a sample of 25 chickens , n = 25. And we want to find the limits for a confidence interval within 3 deviations from the mean with z =3.

We assume that the distribution for X is normal. So then the distribution for the sample mean is also normal.

And for this case the confidence interval would be given by:

(\bar X -z\frac{\sigma}{\sqrt{n}} < \mu < \bar X -z\frac{\sigma}{\sqrt{n}})

So the limits are defined as:

LL = \bar X -z\frac{\sigma}{\sqrt{n}} represent the lower limit

UL = \bar X +z\frac{\sigma}{\sqrt{n}} represent the Upper limit

Since we have all the values given we cn replace like this:

LL = 420 -3\frac{25}{\sqrt{25}}= 405 represent the lower limit

UL = 420 +3\frac{25}{\sqrt{25}}= 435 represent the Upper limit

So then the limits for this case are (405, 435)

5 0
2 years ago
Suppose you win the lottery and have two options: A. Take $1 million now. B. Take $1.2 million to be paid out as 300,000 now and
laila [671]

Answer:

A. Take $1 million now.

Explanation:

A. If we take $1 million now the present value of the money is $1 million.

B. If we choose to take $1.2 million paid out over 3 years then present value will at 10% will be;

$300,000 + $300,000 / 1.2 + $300,000/ 1.44 + $300,000 / 1.728

$300,000 + $250,000 + $208,000+ $173,611 = $931,944

The present value of option B is less than present value of option A. We should select option A and take $1 million now.

4 0
2 years ago
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