The simplest type of payments system is
A)the use of definitive money for trading goods and services.
B)the use of electronic funds transfers.
C)barter.
D)the use of checks issued against accounts at commercial banks for trading goods and services.

Question

Quizplus · Accepted Answer

Definitive money refers to physical currency, such as coins and banknotes, that is widely accepted as a means of payment for goods and services. This is the simplest type of payments system as it does not require any intermediaries or technology to facilitate transactions.

The Simplest Type of Payments System Is