The next major advance came in 1982, when Sims put metal edges on his snowboard so it could be used in a wider variety of snow conditions. He went on to improve and expand the sport over the years, introducing new snowboarding styles, bindings and designs.
Commodity money is a form of money with an intrinsic value. Some of the best examples of commodity money are silver and gold coins. Currency(cash) or banknotes do not have intrinsic value and are virtually worthless in itself. It only has value because society views it as a unit of exchange. This type of currency is called fiat money.
An example of a heterogeneous product is the car. On the other hand, homogeneous products are basically the same in all ways and each can serve as a perfect economic substitute for the other. Commodity goods, such as fruits and precious metals, are good examples.he existence of heterogeneous products means that the market is imperfect and it will be difficult for a consumer to discern the relative value between two products such as two different mid-sized cars.