Need Your Help for Economics Project

[bama1234]

I need your help for an economics project. The assignment is to find out whether or not people will accept the "currency" given by our teacher in exchange for a good or service. If you could take the short time to answer these questions it would be a huge help.

Reply to this topic to answer. Give your name (first or full), age (approximate is fine), and gender.

3 Questions:

1. Would you accept this in exchange for a good or service?

2. Why or why not?

3. What gives the US Dollar its value?

There's no right or wrong answers.

Thank you for your help.

[theocd]

Name: -

Age: 19

Gender: Male

1. No.

2. 'Not legal tender' quoted on the note.

3. Despite it being the wrong currency It is not recognised by a culturalised norm as being part of the US Currency; an inidividual acting within the confines of this norm with that bill will be severely disappointed Also, if any individual was able to make his/her own money the whole meaning that the note symbolises would be void. I don't know what it says on Dollar Bills but on Pound Notes all it is is a promise - 'I promise to pay the bearer on demand the sum of...' is at the top. The value of any money is completely false and now as we move into an age of Virtual Money, the apparent value of a promise on coins and notes is being called into question...

The OC-D

[Voodoo_Operator]

Mr. Voodoo, age 26, male

1- Hell no.

2- Besides the fact that it says "Play money" and "Not legal tender", Kane's face from Command & Conquer is clearly printed on the bill. And as we all know, Kane is evil, despite his cheerful smile. It's probably another weird scheme of his to enslave humanity - I'm not falling for it.

3- The Wall Street fat cats clique. Or the Illuminati. Maybe both. Actually they could be one and the same.

[Hoppah]

Mr Hoppah, approximately 12 years old, male

1. Would you accept this in exchange for a good or service?

Yes, if you give me Boardwalk and Park Place properties in return =)

2. Why or why not?

Because investing in the most valuable real estate will hopefully get me rich and let me win the game.

3. What gives the US Dollar its value?

The boss who invented Monopoly.

[Sawdbuster]

Name: Kris

Age: 17

Sex: M

1. No

2. Because nobody else would except that in the United Sates as trade barter

3. The fact that people believe that a piece of rag (US currency is made out of fine rag, not paper) represents any true value compared to an object/product/services.

Brad Kidvue

24

Male

1. I would not accept this as barter, or trade

2. It has no return value

3. The US dollar, or any other currency has its value because it can be exchanged. I don't know if they still do, but it used to say that it would pay to the bearer on demand BILL VALUE, so if I had a $20, and brought it to the bank/federal reserve, I could receive $20 worth of commodity that they had that I wanted. It's a note used for trade. It's the same reason why cheques work. If I had a hundred dollar cheque from the gov't, most places in canada, people too, would take it. I'd endorse it, so I could trade it in exchange for goods worth that value. It serves as a promissory note that is able to be used in court. If your teacher gave you a note that said he would give me $100, or that value in materials, and you wanted to trade that, and I knew I could trust him, I would take it, because I could then get it. The reason why real money will work, and not that is because I don't know who the hell that teacher is, and I don't trust Kane. The government though is known by everyone, and has been proven that when presented these notes, will give you the money value of it.

A comparison would be like the guy that traded a pen for a house through a bunch of steps. One of the objects he traded was an instant party, which included a kegstand, and an IOU for one keg of beer from a local club. This note could then be exchanged, giving it the value equivalent of money. The difference is, that beer's value will go up eventually, meaning you've made an investment worth something. It also serves the risk of losing its value. Money is always worth the face value when presented. A twenty dollar bill from now has the same value at a cash register as a twenty dollar bill from 1990, 1930, and hell 1890 (if they had them then). I'm not talking trade value, just cash value. (We all know old stuff is worth a tonne of money.

I change may answer to 3 to his, because that is what I think, but didn't wanna type it

Edited October 16, 2012 by Sawdbuster

[Newfoundking]

Brad Kidvue

24

Male

1. I would not accept this as barter, or trade

2. It has no return value

3. The US dollar, or any other currency has its value because it can be exchanged. I don't know if they still do, but it used to say that it would pay to the bearer on demand BILL VALUE, so if I had a $20, and brought it to the bank/federal reserve, I could receive $20 worth of commodity that they had that I wanted. It's a note used for trade. It's the same reason why cheques work. If I had a hundred dollar cheque from the gov't, most places in canada, people too, would take it. I'd endorse it, so I could trade it in exchange for goods worth that value. It serves as a promissory note that is able to be used in court. If your teacher gave you a note that said he would give me $100, or that value in materials, and you wanted to trade that, and I knew I could trust him, I would take it, because I could then get it. The reason why real money will work, and not that is because I don't know who the hell that teacher is, and I don't trust Kane. The government though is known by everyone, and has been proven that when presented these notes, will give you the money value of it.

A comparison would be like the guy that traded a pen for a house through a bunch of steps. One of the objects he traded was an instant party, which included a kegstand, and an IOU for one keg of beer from a local club. This note could then be exchanged, giving it the value equivalent of money. The difference is, that beer's value will go up eventually, meaning you've made an investment worth something. It also serves the risk of losing its value. Money is always worth the face value when presented. A twenty dollar bill from now has the same value at a cash register as a twenty dollar bill from 1990, 1930, and hell 1890 (if they had them then). I'm not talking trade value, just cash value. (We all know old stuff is worth a tonne of money.

[met police999]

Mr Hoppah, approximately 12 years old, male

1. Would you accept this in exchange for a good or service?

Yes, if you give me Boardwalk and Park Place properties in return =)

2. Why or why not?

Because investing in the most valuable real estate will hopefully get me rich and let me win the game.

3. What gives the US Dollar its value?

The boss who invented Monopoly.

hoppah you legend

[bama1234]

Thank you all for your responses, most of which made me laugh. The man on the picture is my Economics teacher by the way.

[Hoppah]

Thank you all for your responses, most of which made me laugh. The man on the picture is my Economics teacher by the way.

The dude who taught me how to make White Russians looks exactly like him! What a coincidence.

[Voodoo_Operator]

The dude who taught me how to make White Russians looks exactly like him! What a coincidence.

I'm pretty sure he meant the one on the fake dollar bill. The one who looks like Kane.

[Hoppah]

I'm pretty sure he meant the one on the fake dollar bill. The one who looks like Kane.

Oh, I thought he meant 'the dude' from his profile pic.