The Conversion of a Barter Economy to One That Uses

question 88

Multiple Choice

The conversion of a barter economy to one that uses money

• A)increases efficiency by reducing the need to exchange goods and services.
• B)increases efficiency by reducing the need to specialize.
• C)increases efficiency by reducing transactions costs.
• D)does not increase economic efficiency.

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Definitions:

Financial Performance

A measure of how well a company can use assets from its primary mode of business to generate revenues.

Nonfinancial Performance

Evaluation of a company's success based on metrics other than financial gains, such as customer satisfaction or environmental impact.

Discriminatory Pricing

The practice of charging different prices for the same product or service to different consumers, especially in a manner considered unfair or unethical.

Corporate Espionage

The practice of secretly gathering proprietary or confidential information from competitors or other businesses for competitive advantage.