Skip to content
TrackPodcasts
scienceDec 1, 2014pending

2.1. Barter

About this episode

Because the opportunity cost of a good cannot be fixed, it is impossible to know the proper exchange ratios for barter. This problem is overcome in the market by using commodities that have marketable characteristics, such as transportability, durability, and a recognized economic value, to serve as a medium of exchange. Prices of goods do not strictly follow the quantity theory of money.

From Part 2: Money and Interest. Narrated by Millian Quinteros.

Get every episode summarized

Each time An Essay on Economic Theory publishes, we email you a written briefing from the transcript — the topics, who appeared, and any specific claims, with the ad reads skipped.

Email me new episodes

Free for 3 shows. No card needed.

Hosts & guests

No transcript yet

This episode has not been transcribed. Request it and it moves to the front of the queue.

2.1. Barter

An Essay on Economic Theory

0:00
0:00

More episodes

More from An Essay on Economic Theory

View all episodes →