The dale family and the mcardle family live on the same street and have yard sales on the same day. the dale family price their books at $1 each. when someone tells them the mcardles are selling their books for 75 cents each, mrs. dale starts giving away free cookies with each $1 book sold. this scenario represents competition.

A hard currency

Explanation:

A monetary unit that is freely and easily converted into other currencies is a hard currency.

The value of this currency neither depreciates suddenly nor fluctuate to a great extend.

This currency is considered politically and economically stable by the nation.

Hard currencies can also be used as a form of payment for goods and services.