Barter Is an Inefficient Means of Exchange Because

question 54

Multiple Choice

Barter is an inefficient means of exchange because

• A) barter transactions require a double coincidence of wants.
• B) barter only occurs in relatively primitive economies.
• C) demand will not necessarily equal supply.
• D) in a barter transaction only one party needs to want what the other party has to sell.

Recognize the influence of unconscious thought processes in consumer choices.

Identify different behavioral responses to shopping stressors and the concept of shrinkage in consumer psychology.

Understand the concept of bonds and their characteristics including the differences between contractual and market interest rates.

Recognize the accounting treatments for bonds issued at a premium, discount, face value, and their subsequent interest expense recognition.

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Definitions:

Replicable

Capable of being replicated or repeated with similar results.

Statistically Significant

A result that is unlikely to have occurred by chance alone, according to a predefined threshold in a statistical test.

Convenience Sample

A sampling technique where participants are selected based on their easy availability and proximity to the researcher.

Representative

An individual or entity chosen or appointed to act or speak on behalf of others.