Money Has Replaced the Need to Barter, Which Is

question 93

Multiple Choice

Money has replaced the need to barter, which is:

• A) a certain amount of purchasing power that it retains over time.
• B) something you can use to purchase goods and services.
• C) something you can directly offer, like any good or service, in exchange for some good or service you want.
• D) a standard unit of comparison.

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Definitions:

Absolute Threshold

The minimum intensity of a stimulus at which it can be detected by an individual at least 50% of the time.

Difference Threshold

The minimum difference in stimulation that a person can detect 50% of the time, also known as just noticeable difference (JND).

Sensory Adaptation

The process by which sensory receptors become less sensitive to constant stimuli over time.

Sensation

The process by which our sensory receptors and nervous system receive and represent stimuli from our environment.