Money's Basic Advantage as Compared to Barter Is That

question 139

Multiple Choice

Money's basic advantage as compared to barter is that

• A) everybody has money but not everyone has the opportunity to barter.
• B) a money system relies on a double coincidence of wants.
• C) money reduces transaction costs.
• D) money is the only medium you can use to store your wealth.

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Definitions:

Robber's Cave Experiment

A social psychology experiment that illustrated how conflict can arise between groups and be resolved through cooperative tasks that achieve mutual goals.

Us-Them Hostility

Us-Them Hostility refers to the negative attitudes and behaviors directed towards members of an out-group, reinforced by strong in-group loyalties.

Tendency to Conform

reflects the inclination of individuals to adopt the behaviors, attitudes, or values of their peers or society as a whole, often to gain acceptance or avoid social sanctions.

Compliance

The act of conforming to, following, or agreeing to a request, rule, or instruction typically from an authority figure or social norm.