If There Are Five Goods in a Barter Economy,one Needs

question 94

Multiple Choice

If there are five goods in a barter economy,one needs to know ten prices in order to exchange one good for another. If,however,there are ten goods in a barter economy,then one needs to know ________ prices in order to exchange one good for another.

• A)20
• B)25
• C)30
• D)45

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Definitions:

Fluid Intelligence

The capacity to think logically and solve problems in novel situations, independent of acquired knowledge.

Accommodation

In psychology, a cognitive process that involves adjusting our existing knowledge structures in response to new experiences.

Cognitive Structures

Mental frameworks that help individuals organize and interpret information, fundamental to understanding the world and decision-making processes.

Piaget's

Pertains to the cognitive development theory proposed by Jean Piaget, which outlines how children's mental abilities evolve through stages as they interact with their environment.