On Yap Island, in the Pacific Ocean, early inhabitants used large limestone disks, known as Rai stones, as money. Some of these disks weighed as much as a car! Everyone agreed that the stones were valuable and the people utilized them in much the same way we use money today. The weight of the stones and the fact that a Rai stone is difficult to split into smaller denominations would make Rai stones unfit to act as money today because Rai stones could not act as a ________.
Fill in the blank(s) with correct word
Ans: Medium of Exchange
Business
You might also like to view...
What is the Hawthorne effect?
a) workers responding to the attention they are given b) stopwatch time studies leading to time standards c) the use of quantitative methods for solving management problems d) the use of interchangeable parts e) more lighting increases productivity
Business
Which of the following is NOT mentioned in the text as an additional code that could be included for each respondent in the coding process?
A) the project code B) the interviewer code C) the project director code D) the validation code E) codes for responses to questions
Business