Using a Good as a Medium of Exchange Confers the Benefit

question 81

Multiple Choice

Using a good as a medium of exchange confers the benefit that

• A)the need to quote so many prices in trade is reduced.
• B)the need for a double coincidence of wants is greatly increased.
• C)the need for specialization is reduced.
• D)transactions costs are increased, but they now may be paid in money terms.

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Definitions:

Ethane

A colorless, odorless gas that is a hydrocarbon of the alkane series, used as a fuel and in chemical synthesis.

Lewis Structure

A representation that illustrates how atoms in a molecule bond and highlights any unshared electron pairs that might be present.

Lewis Structure

A visual diagram that illustrates the bonding between atoms and the lone pairs of electrons in a molecule.

Phosphine

A colorless, flammable, and toxic gas with the chemical formula PH3, used in various industrial applications and as a pesticide.