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Without money, everything would become more expensive - Course Rated

July 13, 2020by admin

Without money, everything would become more expensive. This is a statement defined best by the case of Zimbabwe which reported hyperinflation to the tune of 79.6 billion percent by November 2008. The hyperinflation resulted in the government of the country seeking to fully phase out the use of the Zimbabwean dollar by the end of 2015 and in its place the country would use the US dollar and the South African rand. This resulted into a country without money that would lead to everything being expensive.
The replacement of the Zimbabwean dollar with the US dollar resulted in a sharp shortage of the US dollar. This is because of the natural subjectivity of the local and international population on the issue of the Zimbabwean dollar’s ability to hold value and the hoarding of the USD.
Additional to the low confidence in the Zimbabwean dollar, it was considered that the currency had no firm basis as a store of value and the implications of this would be the increased demand for the USD, hoarding of the currency, and the lack of adequate hard currency of the USD for use in trade and it is this situation that lead to the view of a country without money.
With no enough currency in the market, commodities are sold at high prices considering the value of the dollar. For instance, a Coke would go for about two dollars in 2015 with any balance from the two dollar note being given back in form of candies and at times some phone airtime.
Considering that the phone airtime and the candies cannot be converted back to money, the prices of commodities are considerably expensive and this explains the scenario in the statement above. If enough US currency was available, it would be easier to give back balances and the prices would be more fair as compared to the current situation.

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