In an economy, there’s a variety of people. Different folks specialize in producing different things and each one of them desires different things.
If there are only two people, they can barter (i.e. directly exchange) what each one of them has with what the other one needs. Even with two people, an exchange rate emerges (e.g. how many loaves of bread you both agree on for a pair of shoes?)
But with more people involved, barter collapses because of two reasons: indivisibility and lack of coincidence of wants.
Indivisibility means that if you’re a shoe-maker, you can’t barter half a shoe for a loaf of bread (if that’s all that you need and you don’t want to overpay).
Lack of coincidence of wants means that you may want a loaf of bread but the other person doesn’t need shoes, he needs a shirt and you don’t know how to make one.
💡 One Great Idea for the Ambitious
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🚀 Three Best Projects of the Week
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📣 Announcement
📂 Proof of Work Ideas of the Week
Prepare a Notion Page on "Major 3 Marketing Strategies by 20 Popular Startups" (Marketing)
Create a website that generates character-based memes randomly (Development)
Develop a website that will Generate a Random Gradient Hex Color Combination (Development)
Come up with a blog on “10 Companies who invest millions just on their copywriting” (Writing)
Write 10 CTA Copies for Instagram (Writing, Marketing)
📂 Tweet of the Week
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Alright folk, that seems like enough for this week, see you again next week 😎
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