Money eliminated the need for the double coincidence of wants through its role as:
A) fiat, or declared, money.
B) an accounting unit.
C) something to store value.
D) a medium of exchange.
E) a hard currency.

Question

Quizplus · Accepted Answer

Money serves as a medium of exchange, allowing individuals to trade goods and services without the need for a double coincidence of wants. This means that individuals can exchange their goods or services for money, and later use that money to purchase goods or services from others, regardless of whether there is a direct match of preferences or needs.

Money Eliminated the Need for the Double Coincidence of Wants