anonymous
  • anonymous
EASY QUESTION!
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chestercat
  • chestercat
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anonymous
  • anonymous
An Indian merchant meets with a Roman trader and gives him jewels and spices. In exchange for those items, the Roman gives him the same amount in olive oil and figs. What is this situation an example of? supply and demand, because the Indian merchant is supplying what the Roman trader is demanding barter, because the Indian merchant and Roman trader are using goods rather than using money in the transaction supply and demand, because the Indian merchant's spices and jewels are more rare than the Roman's olive oil and figs barter, because the Indian merchant and Roman trader are making a decision to select certain goods
anonymous
  • anonymous
I think it is either A or B, I don't know though
anonymous
  • anonymous
i believe it is D

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anonymous
  • anonymous
Can you please explain?
anonymous
  • anonymous
well, back in the day, there were coins and goods that you could trade for other goods or coins knowing that... i read the choices and was thinking about that fact i saw "Supply and demand" well, supply and demand (i think) is whenever someone has the supply and the more demand on a certain supply makes the value go up, but if there is more supply than demand, then the price goes down
anonymous
  • anonymous
But in this lesson they didn't have coins to trade with or make a currency. They used, as it says in the question, items with worth like jewels and spices.
anonymous
  • anonymous
well in that case... the goods used in this question can be valued on rarity or on how much work is needed to get that certain item
anonymous
  • anonymous
Sooo...... it would be B???
anonymous
  • anonymous
lol, i guess so huh?
anonymous
  • anonymous
XD thanks for the help
anonymous
  • anonymous
your welshum
TheYankee
  • TheYankee
It was B, lol, because they weren't using currency.
Ghostedly
  • Ghostedly
B.

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