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Q1:What usually happens when money is absent in an economy? 2Q. What characteristics does a good medium of exchange possess 3Q. How do representative and

Q1:What usually happens when money is absent in an economy?

2Q. What characteristics does a good medium of exchange possess

3Q. How do representative and credit monies compare to commodity monies? (8) 4. Define barter and explain why it is economically inefficient?

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