Thank you for the opportunity to help you with your question!
It is the unit of the account. it measures the relative amount and worth of goods and services hence my wealth and status can be quantified.
Economy of US money is the medium of exchange - it is used for exchange of goods and services .Our country can take part in trading activities with other nations hence boosting the economy.
Barter trade may not work for me personally since it will be difficult to obtain the exact amount of return from the other traders. Again, it will be difficult to get the other trader with the goods that I want. For the economy and global economy, the barter trade may not work due to language barrier and difficulty in measuring the exact amount of goods and services to be exchanged.
Please let me know if you need any clarification. I'm always happy to answer your questions.
Aug 22nd, 2015
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