Asked by
Tatiana Santana
on Nov 11, 2024
Verified
Suppose an ocean liner sinks and the passengers are stranded on a lush tropical island.Which of the following could most likely be used as money in the economy that develops among the survivors?
A) The life jackets they put on when leaving the ship
B) The beads from the necklaces that were given out as party favors on the night the ship sank
C) The coconuts growing on the island
D) The fish in the sea around the island
E) The sand on the island's beaches
Ocean Liner
A large, passenger ship designed for long-distance voyages, often associated with luxury and transoceanic travel.
Lush Tropical Island
A region characterized by abundant vegetation, a warm climate, and located within the tropics, often considered ideal for tourism and agriculture.
Economy
The large set of interrelated economic production and consumption activities that aid in determining how scarce resources are allocated.
- Ascertain the purposes and qualities of money.
- Acquire knowledge on the requirements for an entity to serve as currency in an economic context.
Verified Answer
SM
Learning Objectives
- Ascertain the purposes and qualities of money.
- Acquire knowledge on the requirements for an entity to serve as currency in an economic context.