Market exchange is typically an exchange of goods for money as opposed to goods for goods because use of money solves the problem of

Question

Quizplus · Accepted Answer

Market exchange involves the exchange of goods for money, which is based on the principle of double coincidence of wants. This means that both the buyer and seller must want what the other is offering, which can be difficult to achieve directly through barter. Money serves as a medium of exchange and eliminates the need for a perfect coincidence of wants, thus facilitating market transactions.

Market Exchange Is Typically an Exchange of Goods for Money