Find the best answers to your questions at Westonci.ca, where experts and enthusiasts provide accurate, reliable information. Experience the convenience of getting reliable answers to your questions from a vast network of knowledgeable experts. Connect with a community of professionals ready to help you find accurate solutions to your questions quickly and efficiently.
Sagot :
People accept it in exchange for goods or services is what makes money valuable.
How does money is used to exchange for goods and services?
Medium of exchange. The primary purpose of money is to serve as a medium of exchange for transactions. Without money, all transactions would have to be made through direct exchange of one commodity or service for another, or barter. The problem with a barter system is that one must own an item or service of similar value that the supply also wants in order to receive a specific good or service from a supplier. In a barter system, exchange can only occur if the two parties involved in the transaction have complementary wants. However, the chance of a double coincidence of wants is slim, which makes the exchange of products and services challenging. by acting as a means of exchange that is accepted in all transactions, by all parties, regardless of whether they desire each other's goods and services, money effectively solves the double coincidence of desires problem.
Supporting answer
Hence option C is correct answer
To learn more about money as medium of exchange here https://brainly.com/question/10936639
#SPJ2
Your visit means a lot to us. Don't hesitate to return for more reliable answers to any questions you may have. Thanks for stopping by. We strive to provide the best answers for all your questions. See you again soon. Your questions are important to us at Westonci.ca. Visit again for expert answers and reliable information.
