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In an imaginary country called Macronesia, cocoa beans are used instead of money. Oburix bought 2 kilograms of meat from Maya in exchange for 50
In an imaginary country called Macronesia, cocoa beans are used instead of money. Oburix bought 2 kilograms of meat from Maya in exchange for 50 cocoa beans. Maya used 35 of the cocoa beans to buy a new bronze knife and set aside the remaining 15 for later use.
a) In their transaction, Oburix and Maya have benefited from which functions of money (cocoa beans)?
b) If there is an expectation of a decrease in the value (purchasing power) of cocoa beans in Macronesia, what would be your advice to Maya? Why? Explain.
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