A Barter System of Exchange

question 59

Multiple Choice

A barter system of exchange

• A)requires the use of money.
• B)is the most efficient form of exchange.
• C)involves the trading of goods directly for other goods
• D)does not involve the double coincidence of wants.
• E)developed late in history.

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Definitions:

Markdown

A reduction from the original or retail price of a good or service to increase its attractiveness to buyers.

Operating Expenses

Expenses related to the routine functioning of a company, not including the expenses of products sold.

Operating Profit

Profit earned from a firm's core business operations, excluding deductions of interest and tax.

Potted Poinsettias

A common household plant, particularly popular during the holiday season, characterized by its red and green foliage.