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Questions and Answers
Which is classified as a primary function of money?
Which is classified as a primary function of money?
- Deferred payment standard
- Value transfer
- Value storage
- A mode of exchange (correct)
What is the oldest form of commerce?
What is the oldest form of commerce?
- Barter exchange (correct)
- Trade exchange
- Money exchange
- Value exchange
What is a disadvantage of barter exchange?
What is a disadvantage of barter exchange?
- Abundance of common value measures
- Excessive desire for duplication
- A lack of a standardised means of measuring value (correct)
- Too much standardization
What does barter exchange lack as a store of value?
What does barter exchange lack as a store of value?
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What is one of the secondary functions of money?
What is one of the secondary functions of money?
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