is cumbersome to store, transport and exchange. O must be the backed by a commodity. is not always accepted as payment. ) can easily lose value through government action. requires a double coincidence of wants.
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- Explain the problem of double coincidence of wants faced under barter system.When the manager of a department store attaches price tags to his/her products, he/she is using money as a Group of answer choices unit of transfer. unit of account. store of value. medium of exchange.QUESTION 5 Exchanging goods and services for the goods and services is called barter system. True False
- Differentiate the barter vs. coinage vs. paper/polymer.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.One issue with barter is that sometimes there are commodities that cannot be broken down to smaller quantities. This refers to ______________. a. Coincidence of wants b. Difficulty in storing c. Common unit of measure d. Indivisibility of goods
- . Three goods are produced in an economy by three individuals:Good ProducerApples Orchard ownerBananas Banana growerChocolate ChocolatierIf the orchard owner likes only bananas, the bananagrower likes only chocolate, and the chocolatier likesonly apples, will any trade between these three personstake place in a barter economy? How will introducingmoney into the economy benefit these three producers?3. What are the inherent disadvantages of a barter system?The problem of double coincidence of want was a huge standing block that subdued the smooth process of the barter economy. Money was introduced to solve this problem. Discuss how money was used to resolve the problem of double coincidence of want and any other problem that affected the smooth running of the barter economy ?
- Which of the below is NOT a current characteristic of a cryptocurrency? A) The decentralization involves only two parties in the transaction, i.e., the sender and receiver. There is no third party such as a bank or an investment company to monitor the investor's actions. The blockchain technology will manage the database that has the bitcoin transaction records. B) Cryptocurrencies permit low cost trading and offer anonymity. C)The best part of using cryptocurrency is that every transaction you carry out with the recipient would be unique. You can get into terms negotiation in every deal. D) Cryptocurrencies are relatively low-risk-low return investments suitable for people with fixed incomes since they have fairly stable and predictable values.The largest element of the Canadian money supply today is Select one: O A. coins. O B. the debt of the federal government. O C. paper money. O D. bank deposits. O E. gold.Please give me correct answer and full explanation otherwise i give multiple downvote Note:- Please avoid using ChatGPT and refrain from providing handwritten solutions; otherwise, I will definitely give a downvote. Also, be mindful of plagiarism. Answer completely and accurate answer. Rest assured, you will receive an upvote if the answer is accurate. Which of the following is correct in respect of “money as a medium of exchange”: ch of the following is correct in respect of “money as a medium of exchange” : I. Money facilitates the exchange of goods. II. Money reduces or eliminates the need for barter. III. Money is an object that can be held and exchanged for goods and services at a later. Only I and II are correct. I, II and III are correct. Only I is correct. Only III is correct.
