pay the bills at the cost of labor? thank you.
2007-04-04 08:42:35 · 8 answers · asked by Anonymous in Arts & Humanities ➔ Philosophy
what? our money we use to pay bills, often reflects much more then the cost of labor
2007-04-04 08:48:50 · answer #1 · answered by dlin333 7 · 1⤊ 0⤋
At first the only method of payment was a barter system. I will give you two chickens if I can have some of your grain for bread.
That system of barter was difficult to say the least. Then precious metals were found and all agreed as to their value; then that became the barter. Then as social systems developed, governments would set up coins as a value to purchase goods.
The 100 dollar bill has no intrinsic value except we all agree that it is worth so much in return of goods.
It is a more simple system than that of barter.
Dr. J
2007-04-04 08:53:08 · answer #2 · answered by Jerry H 2 · 0⤊ 0⤋
Hi from one seven to another. Labor? It is not labor if we are operating in a career we are designed for. More like earning a wage for service.
2007-04-04 09:07:29 · answer #3 · answered by Anonymous · 0⤊ 0⤋
You have to take opportunity costs into account to determine the value of apples and oranges to be able to judge which item is more difficult to produce as it relates to customer needs. While both items may be food, oranges prevent scurvy and apples offer fiber for laxative. Customers buy according to their needs and desires. So if demand goes down for one item price has to go up for that item to make sure that the people that produce that item are able to continue to make that item. Else there will not be that item and then supply will exceed demand and prices will rise even higher, inspiring more people to produce that item assuming they can make more money for their work. It is economics and the invisible hand of Adam Smith.
2007-04-07 23:31:40 · answer #4 · answered by LORD Z 7 · 0⤊ 0⤋
because money represents labor in the form of material- it is not practical or seamless, the way money is, to trade in terms of man power- we need a universal medium-money. I don't think I helped at all, please eat a grilled cheese and wombat pelt sandwich.
2007-04-04 08:50:46 · answer #5 · answered by ? 2 · 0⤊ 0⤋
Thats what the government wants
2007-04-04 08:50:06 · answer #6 · answered by ηєvєrmorє 6 · 0⤊ 0⤋
cause were jack asses and need to learn to barter for goods rather than make money
2007-04-09 03:20:17 · answer #7 · answered by Anonymous · 0⤊ 0⤋
Your welcome baby.
2007-04-04 08:58:22 · answer #8 · answered by Immortal Cordova 6 · 0⤊ 1⤋