A Problem with Barter Exchange When There Are Many Goods

question 74

Multiple Choice

A problem with barter exchange when there are many goods is that in a barter system

• A) transactions costs are minimized.
• B) there exists a multiple number of prices for each good.
• C) there is only one store of value.
• D) exchange of services is impossible.

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Definitions:

Agriculture Sector

The part of the economy concerned with the production, processing, and distribution of food, fiber, and products from plants and animals.

Globalization

The process by which businesses or other organizations develop international influence or start operating on an international scale.

Labour-intensive Jobs

Occupations or industries that require a high amount of manual work relative to capital investment, often characterized by high employment levels.

Collective Bargaining Process

A negotiation process between employers and a group of employees aimed at reaching agreements to regulate working salaries, working conditions, and other aspects of workers' compensation and rights.