Question

If mollusk shells were accepted as a method of payment in modern-day markets, what economic role would they play in the financial system?

Answer 1

Answer:

medium of exchange

Explanation:

Mollusk shells would probably be used as a medium of exchange, but cannot be considered money. In order for mollusk shells to be considered money, they have to serve the four functions of money:

1. serve as a unit of account
2. serve as a store of value
3. serve as a medium of exchange  
4. serve as a standard of deferred payment.