Under a Barter System

question 16

Multiple Choice

Under a barter system,

• A)there is a single medium of exchange.
• B)an efficient banking system is necessary.
• C)money is exchanged for goods after reaching an agreed-upon price.
• D)any good can be used as a medium of exchange.
• E)the coincidence of wants is not a major problem.

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Definitions:

Net Income

The total profit of a company after all expenses, including taxes and operating costs, are subtracted from total revenue.

Dividends Paid

The portion of a company's earnings distributed to shareholders as a reward for their investment.

Income Statement

A financial statement that shows a company's revenue and expenses over a specific period, resulting in net profit or loss.

Unrealized Loss

A loss that results from holding onto an asset that has decreased in price, not realized until the asset is sold for a lower price.