The Barter System of Exchange Is Inefficient Because

question 53

Multiple Choice

The barter system of exchange is inefficient because

• A)exchange partners need to know each other.
• B)markets do not exist.
• C)"fair" values cannot be defined without the use of money.
• D)bargaining power is unequal between rich and poor.
• E)the double coincidence of wants may not exist.

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Definitions:

Variance

A statistical measure of the dispersion of data points in a data set, indicating how far each data point is from the mean.

Population

In biology, it refers to all the organisms of the same group or species who live in a particular geographical area and are capable of interbreeding.

Monozygotic Twins

Twins that result from the division of a single fertilized egg and share all of their genetic material, often referred to as identical twins.

Similar

Having likeness or resemblance, especially in terms of qualities or characteristics.