An Economy Using Money Is More Efficient That a Barter

question 58

True/False

An economy using money is more efficient that a barter economy because the use of money reduces the time spent searching for trading partners with a coincidence of wants and therefore more time can be spent producing goods and services.

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Definitions:

Market

A group of people who have a need, purchasing power, and the desire and authority to spend money on goods, services, and ideas.