Money Frees Society from a System of Barter

question 107

Multiple Choice

Money frees society from a system of barter.In doing so,money is performing which of the following functions?

• A) store of value
• B) measure of worth
• C) unit of account
• D) determination factor
• E) medium of exchange

---

Definitions:

Robinson-Patman Act

An anti-discrimination law aimed at protecting small businesses from unfair competition practices by larger companies, particularly in the context of price differentiation.

Functional Discounts

Price reductions given to intermediaries in the distribution chain for performing certain functions like storage, distribution, or sales efforts.

Price Discrimination

The practice of charging different prices to different customers for the same product or service, typically without a difference in cost.

Price Discrimination

The practice of selling the same product to different buyers at different prices, often based on market power.