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What would happen if currency in all countries had fewer denominations?

People would be more likely to confuse the value of currencies. Ex...

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What would happen if currency in all countries had fewer denominations?

People would be more likely to confuse the value of currencies.
Exchanging money between countries would be much easier.
People could not charge as many different prices for goods.
All goods would be more expensive than they currently are.

Answer

If the currency in all countries had fewer denominations, then "People could not charge as many different prices for goods."
The more the denominations, the more flexible the prices of the good are.
It helps the consumers and sellers to adjust prices according to the capacity of getting what is due (or price).

Virtual Teaching Assistant: Colleen R.
Question Level: Basic
Karma: Free
Upload Date: 5/31/2017

This 50 words question was answered by Colleen R. on StudySoup on 5/31/2017. The question contains content related to Business Since its upload, it has received 264 views.

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