What caused the decline of barter as a means of obtaining something needed by a consumer?
A) Development of the central bank system
B) The discovery of gold
C) The invention of the credit card
D) The use of bonds
E) The introduction of money

Question

Quizplus · Accepted Answer

Barter requires a coincidence of wants, meaning that both parties in the transaction have to want what the other has to offer. This can be difficult to achieve and can lead to inefficiencies in trade. The introduction of money as a medium of exchange made transactions easier by providing a standard unit of value that could be used to facilitate trade without requiring a coincidence of wants. As a result, barter gradually declined as a means of obtaining something needed by a consumer.

What Caused the Decline of Barter as a Means of Obtaining