The Fact That Using Money Avoids the Double Coincidence of Wants

question 181

Multiple Choice

The fact that using money avoids the double coincidence of wants necessary in a barter economy illustrates which function of money?

• A) medium of exchange
• B) source of liquidity
• C) unit of account
• D) store of value

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Definitions:

Sales Industry

The sector of the economy focused on the activity of selling goods or services.

Account Analysis

The process of reviewing and evaluating a customer's account to understand their needs, spending patterns, and potential for future transactions.

80/20 Principle

A rule of thumb stating that 80% of outcomes (or outputs) come from 20% of all causes (or inputs) for any given event, also known as the Pareto Principle.

Sales Territory

A specified geographical region or group of customers assigned to a salesperson or team for the purpose of selling products or services.