In Explaining the Evolution of Money

question 69

Multiple Choice

In explaining the evolution of money

• A)government regulation is the most important factor.
• B)commodity money,because it is valued more highly,tends to drive out paper money.
• C)new forms of money evolve to lower transaction costs.
• D)paper money is always backed by gold and therefore more desirable than checks.

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Definitions:

First-Time Entrepreneurs

Individuals starting a business for the first time, often facing unique challenges and learning experiences.

Profitable Sales

Transactions that result in excess revenue over the cost of goods sold (COGS) and other expenses, contributing to the financial gain of a business.

High Value-Added

Products or services that undergo significant improvements or enhancements, adding considerable value over the basic cost of materials and production.

Underprice

To offer goods or services at a price lower than the market rate or the cost of production.