The Use of Money Is More Efficient Than Barter Because

question 45

Multiple Choice

The use of money is more efficient than barter because the introduction of money

• A)reduces the need for economic specialization.
• B)reduces the need to exchange goods.
• C)reduces the need for other stores of value.
• D)reduces transaction costs.

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Definitions:

Extinction

In behavioral psychology, the process by which a conditioned response decreases in frequency and eventually disappears after the conditioned stimulus is repeatedly presented without the unconditioned stimulus.

Conditioned Response

A learned response to a previously neutral stimulus that becomes associated with a significant stimulus.

Conditioned Stimulus

A stimulus that has been associated with a particular response through conditioning, leading to its ability to elicit that response on its own.

Meat Powder

An example of a stimulus used in classical conditioning experiments, famously by Ivan Pavlov.