For Money to Be an Acceptable Medium of Exchange, Which

question 55

Multiple Choice

For money to be an acceptable medium of exchange, which of the following are necessary?

• A) It must be scarce, divisible, portable, and durable.
• B) It must be distributable, durable, comparable, and valuable.
• C) It must be portable, sortable, valuable, and divisible.
• D) It must be compatible, comparable, scarce, and sortable.

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Definitions:

Market Basket

A fixed set of goods and services whose total cost is tracked over time to measure inflation and the cost of living.

Price of Books

The amount of money required to purchase books, which may vary based on factors like genre, author, and publication date.

Price of DVDs

The cost that consumers pay to purchase digital versatile discs used for storing data, especially movies and other multimedia content.

Economic Bad

Any item or service that results in a negative effect on the consumer's utility or well-being, opposite of an economic good.