The Evolution of the Payments System from Barter to Precious

question 1

Multiple Choice

The evolution of the payments system from barter to precious metals, then to fiat money, then to cheques can best be understood as a consequence of ________.

• A) government regulations designed to improve the efficiency of the payments system
• B) government regulations designed to promote the safety of the payments system
• C) innovations that reduced the costs of exchanging goods and services
• D) competition among firms to make it easier for customers to purchase their products

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Definitions:

Exploitation

The unfair treatment or use of someone or something for one's own advantage or profit, often without proper compensation.

Workers

Individuals engaged in a job or activity for wages or salary, often referred to as employees in various sectors of the economy.

Social Mobility

A person’s movement over time from one class to another.

Debunking

The process of exposing false claims or myths, often revealing the truth through critical examination.