Which of the Following Is Necessary to Make a Trade

question 11

Multiple Choice

Which of the following is necessary to make a trade in a barter economy?

• A) money
• B) unlimited wants
• C) a medium of exchange
• D) a coincidence of wants

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Definitions:

Financing Statement

A document filed to give public notice that a lender has a security interest in a debtor's asset, used in securing financing.

Perfected

In law, refers to a state where a security interest or lien secures payment or performance of an obligation to its fullest legal extent.

Security Interest

A legal claim or lien on collateral that secures the performance of an obligation, usually repayment of a debt.

Collateral

An asset offered to secure a loan or other credit and subject to seizure upon default.