Post by Admin on Jun 19, 2016 11:19:41 GMT
Money is anything of value that is widely accepted as payment for goods and services. There are many different currencies, money is divided into.
Bartering meant swapping goods or services one person has for goods or services another person has. Bartering very rarely exists in modern times except between friends.
Disadvantages of bartering:
*Both people involved in the barter must have a good or service that the other person needs and wants.
*Both items involved in the barter would have to be of equal value.
*The goods have to be carried around, which would be difficult if they are bulky.
Ireland along with 16 other European countries that use the currency, Euro is part of an Economic and Monetary Union (EMU).
Advantages of a single currency to Ireland
*Firms that import or export goods between eurozone (EMU) don't have to worry about exchange rate changes.
*Irish firms that trade with other eurozone countries save money as they no longer have to pay commission for changing currency.
*Ireland has lower interest rates than it had in the past.
*Ireland can expect to have lower inflation rates than it had in the past.
Bartering meant swapping goods or services one person has for goods or services another person has. Bartering very rarely exists in modern times except between friends.
Disadvantages of bartering:
*Both people involved in the barter must have a good or service that the other person needs and wants.
*Both items involved in the barter would have to be of equal value.
*The goods have to be carried around, which would be difficult if they are bulky.
Ireland along with 16 other European countries that use the currency, Euro is part of an Economic and Monetary Union (EMU).
Advantages of a single currency to Ireland
*Firms that import or export goods between eurozone (EMU) don't have to worry about exchange rate changes.
*Irish firms that trade with other eurozone countries save money as they no longer have to pay commission for changing currency.
*Ireland has lower interest rates than it had in the past.
*Ireland can expect to have lower inflation rates than it had in the past.