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During World War II, U.S. prisoners of war used cigarettes as a form of money. Cigarettes were used to purchase anything that was for sale in the prison camps. We have discussed, however, that money should possess the qualities of durability, portability, divisibility, uniformity, ease of recognition, and scarcity. In terms of these six criteria, discuss the advantages and disadvantages of cigarette money in this prison economy.

Microeconomics, Economics

  • Category:- Microeconomics
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