What Is the Major Advantage of Using Money as Opposed

question 29

Multiple Choice

What is the major advantage of using money as opposed to barter?

• A)In the barter system,there is no way to express values of commodities.
• B)Money is the only convenient way to store one's wealth.
• C)Money has more value than real goods.
• D)Money stays where you put it,whereas a cow often has to be fenced in.
• E)The use of money significantly reduces transactions costs.

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Definitions:

Savings And Loan Association

A financial institution that specializes in accepting savings deposits and making mortgage and other loans.

Auto Retailer

A business that specializes in the sale of new or used automobiles to the public.

Accountancy Firm

A business that provides accounting, tax preparation, auditing, and financial management advisory services to clients.

Truth In Lending Act

A federal law designed to protect consumers in their dealings with lenders and creditors, by requiring clear disclosure of key terms in the lending agreement and all costs.