As Opposed to a Payments System Based on Barter,a Payments

question 11

Multiple Choice

As opposed to a payments system based on barter,a payments system based on money

• A)requires a double coincidence of wants.
• B)leads to less specialization.
• C)makes trades less costly.
• D)None of the above is correct.

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Definitions:

Legal Services

Professional assistance provided by a qualified lawyer or law firm to advise or represent clients in legal matters.

Assembly Line Operations

Production processes where products are assembled in a sequential manner along a conveyor belt or line.

Material Requirements Planning

An inventory management system that determines the quantity and timing of raw materials needed for production to meet demand while minimizing stock levels.

Time And Motion Studies

The analysis of work processes to increase efficiency by reducing wasted time and motion.