Mario paid three bushels of rice for three boxes of wool at the market. What type of money did mario use for this exchange?
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This kind of transaction is known as barter exchange or barter system
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This kind of transaction is known as commodity.
It is the basic good which is used in the commerce process which is completely interchangeable with any other commodities of similar type.
Often, commodities are used as the inputs in the overall production of other services or goods.
The overall quality of the given commodity will differ slightly, but it is uniform across the producers.
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