A major shortcoming of a barter economy is
A) the requirement of specialization and exchange.
B) that money loses value over time from inflation.
C) the requirement of a double coincidence of wants.
D) that most goods and services cannot be traded.
C
Economics
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A firm that is a price taker can
a. substantially change the market price of its product by changing its level of production. b. sell all of its output at the market price. c. sell some of its output at a price higher than the market price. d. decide what price to charge for its product.
Economics
A decrease in the price of the good on the horizontal axis rotates the budget constraint counterclockwise
a. True b. False Indicate whether the statement is true or false
Economics