Introduction to Money and Inflation Quiz
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Questions and Answers

What was a significant limitation of the barter system according to the text?

  • Problem of Mutual Adjustment of Wants (correct)
  • Difficulty in Storing of Value
  • Increase in Demand
  • Increase in Cost of Production

    • Why did the barter system become less applicable over time?

  • Decrease in division of labor
  • Increase in population and socio-economic development (correct)
  • Less specific demands
  • Lack of agricultural exchange

    • Which function of money is described as 'Money as a Store of Value'?

  • Money as a Store of Value (correct)
  • Money as a Measure of Value
  • Money as a Medium of Exchange
  • Money as a Means of Production

    • What led to the limitation and decrease in applicability of the barter system?

    <p>Urbanization and specialization</p> Signup and view all the answers

    Which factor is NOT mentioned as a cause of inflation in the text?

    <p>Urbanization</p> Signup and view all the answers

    What was NOT an exchange item mentioned in the text for teachers under the barter system?

    <p>Rice</p> Signup and view all the answers

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