Which of the Following Would Result Without Money to Serve

question 13

Multiple Choice

Which of the following would result without money to serve as a medium of exchange?

• A)We would all have to be self-sufficient.
• B)The transactions cost of exchange would increase.
• C)Gains from trade would be impossible.
• D)Our cost of living would be higher.

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Definitions:

Under-Eating

The act of consuming insufficient amounts of food, leading to potential nutritional deficiencies and health problems.

Maslow

Refers to Abraham Maslow, a psychologist best known for creating Maslow's hierarchy of needs, a theory of psychological health predicated on fulfilling innate human needs.

Stages Of Needs

A hierarchical structure of human needs, often depicted in models like Maslow's hierarchy, ranging from the most basic physiological needs to higher levels such as self-actualization.

Deficit Needs

According to Maslow's hierarchy of needs, these are the basic requirements for human survival and well-being, such as food, safety, and love, that must be fulfilled before achieving higher-level needs.