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Absent scarcity and alternative uses of available resources, there is no economic problem. The subject thus defined involves the study of choices as they are affected by incentives and resources.
Inflation and monetary policy
Main articles: Inflation and Monetary policy
See also: Money, Quantity theory of money, Monetary policy, History of money, and Milton Friedman
A 640 BCE one-third stater electrum coin from Lydia, shown larger. One of the first standardized coins.
Some different currencies. Exchange rates are determined in currency markets used in international trade.Money is a means of final payment for goods in most price system economies and the unit of account in which prices are typically stated...
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