For Barter Exchange to Take Place

question 27

Multiple Choice

For barter exchange to take place,

• A) there has to be a coincidence of wants.
• B) the products in question have to be divisible.
• C) money has to be used to put a value on the transaction.
• D) there has to be a single coincidence of wants.
• E) gold has to be one of the goods traded.

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Definitions:

Ill-Structured Problem

A problem for which the existing and desired states are unclear and the method of getting to the desired state is unknown.

Confirmation Bias

The tendency to search for, interpret, favor, and remember information in a way that confirms one's preexisting beliefs or hypotheses.

Operant Behavior

A type of learning where behavior is controlled by consequences, including rewards and punishments.

Daily Exercise

Regular physical activity performed on a daily basis to maintain or improve one's health and fitness.