Answer to Question 1
In the days before the invention of the printing press, most societies used something that is valuable itself as money, for example, gold, silver, chickens, and even goats. Today, in most of the world, money is fiat money. Fiat money refers to something that is used as money but is otherwise worthless and is typically backed by the government or the central bank of a country.
Answer to Question 2
Sondra has the absolute advantage in producing both goods, but Sondra only has comparative advantage in the production of bracelets, not pendants. Celia has a comparative advantage in the production of pendants. Sondra's opportunity cost of a bracelet is 1/5 of a pendant, and her opportunity cost of a pendant is 5 bracelets. Celia's opportunity cost of a bracelet is 1/4 of a pendant, and her opportunity cost of a pendant is 4 bracelets.
Structure of the trachea, which extends from the larynx above to the main bronchi below.
Brachial Plexus drawing plus the difference in the forearm
Likelihood of Developing Type 2 Diabetes Mellitus Based on BMI
The two main types of nerve cells.
Comparison of Type 1 and Type 2 Diabetes
A black impact socket. Always use an impact-type socket whenever using an impact wrench to avoid ...