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

Question

Quizplus · Accepted Answer

The barter system of payment is different from a money system of payment because money does not require a double coincidence of wants. In a barter system, both parties must have something the other wants in order to exchange goods or services, while money can be used universally as a medium of exchange.

A Barter System of Payment Is