Assignment:
Requirements
Choose a current news article (no overlapping please) that relates to the topics covered in this module. [Note: please select an article that's current, no less than one year old.]
Read the discussion board to ensure the article is not being used by another student.
Post the article name and source to the discussion board.
Summarize the problem cited in the article and propose a solution if available.
Be sure to relate the problem and solution to the textbook and other readings for the week. Articles/topics not related to the weekly learning topics will not receive full credit.
In your replies, include an alternative solution and state your rationale.
Quantity:
Each student must make a minimum (for a chance at the best score - post early and often) of two posts for each discussion - one initial post and one reply to posts made by your peers.
Quality:
All posts must be substantive, relevant, and respectful, and contribute value to the discussion. "I agree" types of posts are fine to make, but they do not count towards the minimum posting requirement.
Part 1: initial post (200 to 250 words)
Topic: Money & the Payments System.
Part 2: reply to posts (50 to 75 words)
Other's post:
How Free Checking Really Works
https://www.thebalance.com/how-free-checking-really-works-315304
A free account is not easily accessible as it used to be, but still, the free accounts are existing. There are specific ways to get free accounts such as finding a bank which opens a free account or is suitable for fee waivers.
In the first process, it takes the least effort, but it is very challenging to find a free account online banks, small banks and credit unions are best to find it.
Though the services are free, still you have to pay if there is any wire transfer, bounced checks, etc.
A free account type facilities are available in online banks where they provide free services and also pay higher interest rates, and they can also pay out interest in the checking account. Other than the online bank, there are small banks and credit unions.
The next option is fee waivers, where big banks don't cut the monthly fees of the bank if certain requirements met such as depositing your salary
There are some free checking features such as no low balance fees, free ATM card, free online access, etc.
Some services fulfilled in free services while there are some services which are not available in free account such as it doesn't pay interest on the money, It doesn't allow you to view checks after they have paid, there is no service of free stop payments and cancelled check return.
The free checking should be incorporated so that it would help the banks to get more customers.
Part 3 Answer questions:
For essay questions, briefly answer each with a paragraph or two.
Each paragraph should contain a minimum of three sentences.
Yes and no answers are not acceptable.
1. Consider two barter economies: Duos and Varietas.
Duos produces two different goods, whereas Varietas produces 80 different goods.
Both countries have the same number of people.
(a) In which barter economy is it more likely that the means of payment and the units of account would be efficient?
(b) How many relative prices are there in Duos compared with Varietas?
(c) Which economy would benefit more from adopting money?
2. Explain how money encourages specialization, and how specialization improves everyone's standard of living.