Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Recall your reading of Economic Organisation of a P.O.W. Camp a. Cigarettes became the currency used, even for nonsmokers, because they could barter for the

Recall your reading of Economic Organisation of a P.O.W. Camp

a. Cigarettes became the currency used, even for nonsmokers, because they could barter for the cigarettes and then buy other things... but why cigarettes? What made cigarettes a resource that could be used like normal currency compared to other resources?

b. They talk about how everything hada "just price". What exactly is this, and how did everyone know what it was without knowing why?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Global Business Today

Authors: Charles W. L. Hill Dr, G. Tomas M. Hult

10th edition

1259686698, 978-1259686696

More Books

Students also viewed these Economics questions

Question

Purpose: What do we seek to achieve with our behaviour?

Answered: 1 week ago

Question

An action plan is prepared.

Answered: 1 week ago