Questions
Single choice
Money performs several functions, but first and foremost it is a Blank ______. BlackTom题目解析
Options
A.medium of exchange
B.market
C.necessary evil
D.bartered good
E.resource
View Explanation
Verified Answer
Please login to view
Step-by-Step Analysis
Money serves several functions in an economy, and evaluating each option helps identify its primary role.
Option 1: 'medium of exchange' — This correctly captures money’s fundamental function: it is widely accepted in transactions for goods and services, facilitating trade and eliminating t......Login to view full explanationLog in for full answers
We've collected over 50,000 authentic exam questions and detailed explanations from around the globe. Log in now and get instant access to the answers!
Similar Questions
When you purchase school supplies at the book store using cash, you are using money as a medium of exchange.
Part 1In prison, cigarettes are sometimes used among inmates as a form of payment. All of the following explain how cigarettes solve the "double coincidence of wants" problem, even if a prisoner does not smoke, except: A. cigarettes serve as a medium of exchange. B. prisoners can exchange cigarettes for other goods and services. C. exchanging cigarettes for other goods and services increases transaction costs. D. cigarettes are widely accepted as a form of payment in prison.
Part 1In prison, cigarettes are sometimes used among inmates as a form of payment. All of the following explain how cigarettes solve the "double coincidence of wants" problem, even if a prisoner does not smoke, except: A. cigarettes are widely accepted as a form of payment in prison. B. prisoners can exchange cigarettes for other goods and services. C. cigarettes serve as a medium of exchange. D. exchanging cigarettes for other goods and services increases transaction costs.
What is the main reason why countries use money instead of bartering today?
More Practical Tools for Students Powered by AI Study Helper
Making Your Study Simpler
Join us and instantly unlock extensive past papers & exclusive solutions to get a head start on your studies!