Inferior goods are always substandard.

When a financial asset is first sold, the sale takes place in the ________ market, and subsequent sales take place in the ________ market

A) secure; risk B) stock; bond C) investment; commercial D) primary; secondary

In explaining the evolution of money

A) government regulation is the most important factor. B) commodity money, because it is valued more highly, tends to drive out paper money. C) new forms of money evolve to lower transaction costs. D) paper money is always backed by gold and therefore more desirable than checks.