Question
How to respond to the following? The cigs used the # functions of money because they were used in the jail as store of value.
How to respond to the following?
The cigs used the # functions of money because they were used in the jail as store of value. Which means that they used cigs as a way to transfer buying into the future. A good example of this would be them gambling at the rat race, almost every man was supplied with cigs in order to pay his bet or debt off. They also used the cigs as Unit of account. Which means they used the cigs to equate to something else. For example, the man wanted a shot of something good to drink but for 2 cigs he got a shot of something cheap and mostly distasteful. The bartender manager was able to compare what quality of drink he was getting based on the quantity of the cigars the "customer had". They also used cigars as a medium of exchange. Which means that they used their cigars in exchange fora good or service. A good example of this would be the two men being served alcohol at the bar, after paying their 2-cigarette tab. A situation where I have used an unconventional form of money is what in the beauty world people say, "Service for Service". So, my sister did my nails and in return I did her hair for her.
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