The use of money for exchange and trade reduces consumer sovereignty. b. raises the need for a coincidence of wants. c. increases the importance of barter. d. fosters more specialization in production. B
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- Which of the following is not one of the criteria for a commodity to be a suitable medium of exchange? Select one: a. it should be durable b. it should have a standardised quantity c. it should be divisible d. it should not have other usesOne issue with barter is that sometimes there are commodities that cannot be broken down to smaller quantities. This refers to ______________. a. Coincidence of wants b. Difficulty in storing c. Common unit of measure d. Indivisibility of goodsExplain and evaluate the following statements:a. The invention of money is one of the great achievements of humankind, for without it the enrichment that comes from broadening trade would have been impossible.b. Money is whatever society says it is.c. In most economies of the world, the debts of government and commercial banks are used as money. d. People often say they would like to have more money, but what they usually mean is that they would like to have more goods and services.e. When the price of everything goes up, it is not because everything is worth more but because the currency is worth less.f. Any central bank can create money; the trick is to create enough, but not too much, of it.
- Do this puzzle for me and also For the last question ....Use the words supply, demand, imports, exports, and barter in your response.2. Answer letter c and D.The requirement of a "double coincidence of wants" is the chief a. advantage; barter b. disadvantage; barter c. advantage; monetary O d. disadvantage; monetary of the exchange system.
- Discuss the challenges encountered with barter trade (Chapter 21).Most payments in the United States for goods and services are made using A. currency. B. gold. C. checking account deposits. D. bitcoins.economic whit out money use this system exhange between 2 people where 2 people each want one good or service that the other peron can provide a- barter systems b-money serving as a store c-perfect store of value d- doublel coincidence of wants
- The fact that you can use money to compare the value of one good to another is a result of which characteristic? Its use as a medium of exchange. The fact that it is backed by gold. The fact that it is a measure of value. The fact that it is a store of value.Help me fast with the question 2Please write down a sentence or two for each one that explains the concept. Please include any formulas and rules that I should know for every subtopic of exchange rules. I am studying for an exam and I want to understand these concepts throughly
