A barter system of payment is
A)similar to a money system of payment because both use one asset as a unit of account.
B)different from a money system of payment because the barter system is a better unit of account.
C)similar to a money system of payment because both are used as stores of value and units of account.
D)similar to a money system of payment because both require a double coincidence of wants.
E)different from a money system of payment because money does not require a double coincidence of wants.

Question

Quizplus · Accepted Answer

A barter system requires a double coincidence of wants, meaning both parties must have what the other wants. Money eliminates this need, as it is a universally accepted medium of exchange.

A Barter System of Payment Is