The Evolution of the Payments System from Barter to Precious

question 35

Multiple Choice

The evolution of the payments system from barter to precious metals, then to fiat money, then to cheques can best be understood as a consequence of the fact that ________.

• A) paper is more costly to produce than precious metals
• B) precious metals were not generally acceptable
• C) precious metals were difficult to carry and transport
• D) paper money is less accepted than cheques

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Definitions:

Natural Causes

A term used to describe a death that results solely from an illness or internal malfunction of the body not directly influenced by external forces.

Negligence

Failure to take proper care in doing something, leading to damage or injury to another party.

Unconscionable

Describes something that is extremely unfair, unreasonable, or unethical, typically in the context of a contract or agreement.

Common Carrier

A service or company that is available to the public for transport of goods or people, under the regulation of governmental agencies.