Question
In: Accounting
do you feel that we have a good system with all different kinds of currency around...
do you feel that we have a good system with all different kinds of currency around the world? What do you feel is the biggest hold-up to one international currency used by everyone?
Solutions
Expert Solution
Currency is somewhat an instrument used for trade around the world. It can also be said that currency is only thing which is accepted by everyone.
But in actual world this currency is a system of exchange and
around the world we have all different kinds of currency. Due to
this different kinds of currency the buying power of such currency
is also different around the world.
Some countries have become very poor and some have become very rich
due to this different kinds of currency used around the world.
So, in my point of view this is not a good system of having different kinds of currency.
The biggest hold up to one International currency used
by everyone could be these :
- Everyone would have an equal buying power and the countries with poor economic conditions could become good economy.
- The world trade could be easy if there is one currency used by everyone.
- Several unknown benefits could also be there.
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