The Use of Money Is More Efficient Than Barter Because

question 45

Multiple Choice

The use of money is more efficient than barter because the introduction of money

• A)reduces the need for economic specialization.
• B)reduces the need to exchange goods.
• C)reduces the need for other stores of value.
• D)reduces transaction costs.

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Definitions:

Random Variable

An unpredictable phenomenon's numerical outcome represented as a variable.

Random Variable

A random variable is a variable whose values depend on outcomes of a random phenomenon.

Manufacturer

An entity or company that makes goods for sale through the process of manufacturing.

Net Income

The amount of profit that remains after all operating expenses, taxes, and interest have been deducted from total revenue.