The Problem with Barter Economies Is That They Require

question 21

Multiple Choice

The problem with barter economies is that they require:

• A)less time and trouble to trade as compared with a money economy.
• B)that there be a double coincidence of wants.
• C)a banking system for trade to occur.
• D)that there be a single coincidence of wants.

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Definitions:

Wage Rates

The amount of money paid to an employee for a specified quantity of work, usually expressed per hour or per piece.

Bargaining Impasse

A deadlock in negotiations between two parties, typically involving labor unions and employers, where no agreement can be reached.

Lockout

An action taken by employers to prevent employees from entering the workplace, typically during labor disputes or negotiations.

Sabotage

the deliberate action aimed at weakening a polity or corporation through subversion, obstruction, disruption, or destruction.