Why Is It Important to Determine and State One's Assumptions

question 5

Multiple Choice

Why is it important to determine and state one's assumptions?

• A) so that one can be more convincing
• B) it is the standard way to formally communicate
• C) so that it is clear what principles one's reasoning is based on
• D) it is the best way to minimize controversy

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Definitions:

Barter

Trading goods and services directly without involving money as an intermediary.

Barter System

An ancient method of exchange where goods and services are directly traded for other goods and services without using money.

Good

A material item that can be touched, used, or consumed, which is produced to fulfill wants or needs.

Service

A type of economic activity that is intangible, is not stored, and does not result in ownership; services are produced and consumed at the same time.