As Opposed to a Payments System Based on Barter,a Payments

question 11

Multiple Choice

As opposed to a payments system based on barter,a payments system based on money

• A)requires a double coincidence of wants.
• B)leads to less specialization.
• C)makes trades less costly.
• D)None of the above is correct.

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Definitions:

Mental Abilities

Capacities for cognitive functions such as reasoning, problem-solving, and learning.

Babbling

Early stage of language development in infants characterized by the production of sounds or syllables repeated over and over, not yet forming recognizable words.

Schemes

Cognitive structures or patterns of action and thought used to deal with experiences, fundamental in the development of intelligence according to Piaget.

Receptive Vocabulary

The words a person can understand when heard or read, even if they cannot actively use them in speech or writing.