Money facilitates trade because it:____________________________- A.does not require a double coincidence of wants among individuals. B.requires a double coincidence of wants among individuals. C.does not require a medium of exchange. D.requires to carry other goods around for barter.
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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 usesWhich of the following describes the exchange of goods for goods? a. Barter system b. Exchange rate c. Exchange for money d. Deferred paymentThe high transaction costs associated with a barter system refers to: a. The fact that, often times, these exchanges are taxed by governments b. The risk associated with having to carry an inventory of goods to trade c. The high cost associated with finding someone with whom to exchange d. The cost of drawing up complete contracts
- k An asset would be usable as a medium of exchange for all of the following reasons except: OA. the asset should be a commodity that has intrinsic value. B. the asset must be generally accepted by most people. C. the asset should be durable and not lose value due to spoilage. D. the asset should be divisible since goods are valged at different amounts.2. Answer letter c and D.Select the number of the question and the letter to indicate the answer you consider correctfor each question. Answers to all questions are to be recorded on the answer sheet. (Pleasenote - Do not submit the full question with a circle answer. ONLY the number and theletter).1. The Law of demanda. applies to final consumer goods but not to the productive resources purchased bybusiness firms.b. tells us how much of a good people want, but not necessarily how much of that good theyare willing to pay for.c. tells us that when the price of a good falls, quantity demanded will increase.d. applies only to goods that are not absolute necessities. 2. The law of supply states that all other things remaining the same:a. as the price of a good increases, supply of the good will increase.b. as the price of a good increases, the quantity of the good supplied willincrease.c. as the price of a good increases, demand for the good will increase.d. as the price of a good increases, the quantity of the…
- Assume that you are the owner of a company. You need money. Evaluate the advantages anddisadvantages of the ways of finding money. Finally, create your combination to find money.In this context, underline the reasons of your combination. In addition to this issue, imaginethat you have started your business and began to earn money. Talk about the ways to usee thismoney.39. Which of the following statements accurately represent ideas proposed by Adam Smith? a) the market system does not require any help from the government to survive. a) government should be weak. b) the government should protect domestic industry against foreign imports. c) the value of money is based on the goods it can buy d) selfishness is a good thing for society and the economy.I'm just confused about C.
- FCIARISMA PE X E CHARISMA PEX y!american hand X E CHARISMA PEX OD YouTub XqugyZVUWB31NDUmc-mBalnDb109iQOQELpbcwqsjMVvrA/viewform Clear selection What is one challenge you may face when trying to "barter" for goods? Why would you face that challenge? Your answer What might be a challenge of people trying to produce everything they need themselves Your answer What does "Division of Labor" mean? Your answer Why is "Division of Labor" an efficient model for an economy? Your answerBread is always a consumer goods True/FalseRecognize the situation when both the parties in a barter economy have to agree to sell and buy each other's commodities ? What is it called ?
