A Medium of Exchange Is

question 53

Multiple Choice

A medium of exchange is

• A)the thing traded when barter takes place.
• B)an object that sellers will accept as payment.
• C)a measure by which prices are expressed.
• D)an asset that is used to settle future debts.

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Definitions:

Motivated

Having a strong reason or desire to act or accomplish something, often driven by internal or external factors.

Needs Hierarchy Model

A theoretical framework introduced by Abraham Maslow, proposing that human needs are arranged in a hierarchy, with basic needs at the bottom and self-actualization at the top.

Widely Recognized

Known or acknowledged by a large number of people or across a broad spectrum.

Physiological Needs

Basic physical requirements for human survival, such as air, water, food, shelter, and sleep.