Identify the statement which is true of a barter system?
A) In a barter system,trade will only occur if there is a double coincidence of wants.
B) In a barter system,an individual offers coins to get a good or service.
C) In a barter system,an individual offers a commodity money to get fiat money.
D) In a barter system,different kinds of money are exchanged for one another.
E) In a barter system,individuals are self-sufficient.
Correct Answer:
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Q1: Exchange is necessary in an economy if:
A)output
Q2: The greater the degree of specialization in
Q3: Barter was more feasible in primitive societies
Q4: Which of the following statements is true
Q5: The three important functions of money are
Q7: Which of the following best illustrates the
Q8: Which of the following statements is true
Q9: Specialization of labor means that:
A)production requires a
Q10: The earliest type of exchange involved _.
A)coins
B)barter
C)commodity
Q11: The more specialized labor becomes,the:
A)less likely it
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