Which of the Following Results from the Introduction of Money

question 127

Multiple Choice

Which of the following results from the introduction of money for use in transactions?

• A)exchange becomes easier and this promotes the specialization of labour
• B)an increased use of barter
• C)the specialization of labour becomes more difficult
• D)self-sufficiency is assured
• E)society is able to satisfy all wants

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Fundamental statistics or probabilities that are used for reference or as a baseline in decision-making processes.

Representativeness Heuristic

A mental shortcut that involves making judgments based on how much one thing resembles another, which can lead to biases in decision making.

Base-Rate Information

Statistical data that provides foundational probabilities of certain events or characteristics within a specific population.

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Knowledge structures stored in memory that dictate the sequence of actions in specific contexts.