As opposed to a payments system based on barter, a payments system based on money:

a. makes trades less costly.
b. leads to less specialization.
c. requires a double coincidence of wants.
d. None of the above is correct.

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Related questions

Using money as a medium of exchange is more efficient than barter because:

a. it eliminates the need for double coincidence of wants

b. it is available in less quantity

c. it can be printed easily

d. None of the above

ultramarinerabbit849

A double coincidence of wants refers to:
a. the situation in which a good that is used as money also has value independent of its use as
money.
b. the fact that for a barter trade to take place between two people, each person must want what the
other one has.
c. the idea that a barter economy is more efficient than an economy that uses money.
d. the situation where two parties are involved in a transaction where money is the medium of
exchange.

yellowbee66

In the early years of the British settlement of Barbados, cotton, tobacco, and sugar were used as money. What are the advantages and disadvantages of using the items listed above (commodity money) as legal tender relative to a barter system and the system we have today