The evolution of the payments system from barter to precious metals,then to fiat money,then to checks can best be understood as a consequence of the fact that
A)paper is more costly to produce than precious metals.
B)precious metals were not generally acceptable.
C)precious metals were difficult to carry and transport.
D)paper money is less accepted than checks.

Question

Quizplus · Accepted Answer

Precious metals were difficult to carry and transport, which led to the development of paper money. The shift to checks occurred because paper money was inconvenient and risky to carry around in large amounts, while checks allowed for safer and more convenient electronic transfers of funds. The cost of producing paper money is not a significant factor in the evolution of the payments system, and precious metals were generally accepted as a form of payment in many societies. The acceptability of paper money versus checks is not a relevant factor in this context.

The Evolution of the Payments System from Barter to Precious