Which of the Following Is NOT an Important Criterion for Whether

question 31

Multiple Choice

Which of the following is NOT an important criterion for whether a good will be usable as a medium of exchange?

• A)The good must be of standardized quality.
• B)The good must be valuable relative to its weight.
• C)The good must have value even if it were not being used as money.
• D)The good must be durable so that value is not lost through product spoilage.

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Definitions:

Void Title

A legal situation where title or ownership of an asset or property is deemed invalid due to certain defects or illegitimacy in the acquisition process.

Good Title

A legal term signifying that an owner has rightful ownership of property without any encumbrances such as liens or disputes.

Insurable Interests

A stake or financial interest in something that warrants purchasing insurance to protect against losses or damages to that entity or item.

Buyer and Seller

Terms referring to the two parties involved in a transaction, where the buyer pays the seller in exchange for goods or services.