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- Question 24 A medium of exchange is: an asset that can be used to transport purchasing power from one period of time to another the ability to buy something today but defer payment to the future a standard unit that provides a consistent way of comparing prices. what sellers generally accept and buyers generally use to pay for goods and services1. The use of money is more efficient than barter because the introduction of moneyTop of Form reduces the need to exchange goods. reduces transaction costs. reduces the need for economic specialization. reduces the need for other stores of value.3. What are the inherent disadvantages of a barter system?
- barter – the trade of foods for goods- is booming. according to the us department of commerce, barter accounts for 30% of the world’s total business, and experts estimate tat 65% of fortune 500 companies engage in barter to one degree or another. if a medium of exchange clearly had advantages over barter, why does barter exist today?economic whit out money use this system exhange between 2 people where 2 people each want one good or service that the other peron can provide a- barter systems b-money serving as a store c-perfect store of value d- doublel coincidence of wantsDiscuss the challenges encountered with barter trade (Chapter 21).
- Long gone are the days when the exchange of goods and services was done using the barter system. Mind you, bartering is still being practiced in some shape or form but not as before. In fact, money has evolved so much so that many goods and services in many countries can now be paid for using cashless methods. There are however, some countries such as Japan that still functions as a predominantly cash based society. Using examples, discuss TWO advantages and ONE disadvantage of using cash as the main medium of exchange. Using examples, discuss TWO advantages and ONE disadvantage of using electronic money as the main medium of exchange.There would be very few comedians in a barter economy. Do you agree or disagree with this statement? Explain your answer.Answer all..I know bartleby policy.if you solve only 3 then I dounvote and solve all 5 correct the give 3 upvotes
- It is rational for someone who wants to sell a lemon to offer the buyer a money-back guarantee. explain True False25. Jinyue is saving money in order to purchase a new iPad next semester. This represents using money as a medium of deferred payment. a medium of exchange. a method of barter. a unit of account. a store of value.1) Which of the following forms of countertrade does not require use of money or credit between parties? A. None of the above B. Offset C. Switch trading D. Barter 2) The markets of Central and Eastern Europe present interesting opportunities and offer attractive locations for low-cost manufacturing due to: A. Strict laws and regulations B. Their location being close to the sea C. Prohibitive tariffs and export restrictions D. Wages rates being lower than in Spain, Portugal, and Greece 3) The farmer chairman of Nestle recently told an interviewer: "We are food and beverages. We are not running bicycle shops. Even in food, we are not in all fields. There are certain areas which we do not touch. Also, we have no soft drinks because I have said we either buy Coco-Cola or we leave it alone." What statergic marketing principle does the chairman's comment emphasize most specifically? A. Customer value B. Focus on specific food and beverages C. Competitive advantage D. Myopia
