Multiple Choice
The barter system of exchange is inefficient because
A) exchange partners need to know each other.
B) markets do not exist.
C) "fair" values cannot be defined without the use of money.
D) bargaining power is unequal between rich and poor.
E) the double coincidence of wants may not exist.
Correct Answer:
Verified
Correct Answer:
Verified
Q48: In the circular flow of income, the
Q49: Scarcity is likely to be<br>A)a problem that
Q50: It has been observed that university enrollment
Q51: In practice, the term "centrally planned economy"
Q52: The concept of scarcity in economics usually
Q54: Which of the following statements best describes
Q56: In command economies, economic behaviour is<br>A)largely affected
Q57: Karl Marx argued that<br>A)centrally planned economies could
Q58: Suppose Andrea has a job that pays
Q65: In a pure market economy,the role of