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Questions and Answers
What is the benefit of money as a standard for exchange?
What is the benefit of money as a standard for exchange?
- It creates a social hierarchy
- It makes exchanges unfair
- It eliminates the need for exchanges
- It assigns an exact value to labor, services, and goods (correct)
What is the value of money?
What is the value of money?
- Money is valuable because of its rarity
- Money is valuable because of the design on it
- Money has no value by itself (correct)
- Money is valuable because of the material it is made of
What is the purpose of exchanging goods and services in a society?
What is the purpose of exchanging goods and services in a society?
- To eliminate the need for exchanges
- To work individually to improve the quality of society
- To create a social hierarchy
- To gain what they need and achieve their goals (correct)
