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What makes specialisation easier A imposition of taxes B the barter system C the use of money or D protection of trade?
C, the use of money, makes specialization easier because it simplifies transactions by providing a common medium of exchange. Unlike bartering, which requires a double coincidence of wants, money allows individuals to trade goods and services more efficiently. This encourages specialization, as individuals can focus on producing what they do best and use money to acquire other goods and services they need.
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Why are economic transactions easier with money than with barter?
Economic transactions are easier with money than with barter because money serves as a universally accepted medium of exchange, making transactions more efficient and eliminating the need for a double coincidence of wants.
Explain two way in which the use of money can overcome the problems associated with barter?
The development of money has solved many problems with barter,because when we talk about money we think about coins and notes which is easier to store and circulate,money is now acting as the medium of exchange.
What is the problems with barter?
Barter usually means to exchange goods for other goods. If you wanted to barter a pig, for instance, for a cow, both animals would need to be physically exchanged. Exchanging coinage is much easier, and allows the cow to be bought at a later date when the price may have fallen.
What are the Advantages of money economy over barter trade?
Money solved all of the problems that the barter system created. This included a lack of common measure of value of commodities in barter. It also many other advantages which included portability and durability.
What impact has money made over the trade by barter economic system in nigeria?
The introduction of money in Nigeria significantly transformed the barter trade system by facilitating more efficient and scalable transactions. Money allows for easier pricing, storage of value, and a wider range of goods and services to be exchanged, overcoming the limitations of barter, such as the need for a double coincidence of wants. This transition has enhanced economic growth, encouraged specialization, and improved overall market efficiency in Nigeria. Additionally, it has enabled access to credit and investment opportunities, further driving economic development.
Why are economic transactions easier with money than with barter?
Economic transactions are easier with money than with barter because money serves as a universally accepted medium of exchange, making transactions more efficient and eliminating the need for a double coincidence of wants.
Explain two way in which the use of money can overcome the problems associated with barter?
The development of money has solved many problems with barter,because when we talk about money we think about coins and notes which is easier to store and circulate,money is now acting as the medium of exchange.
Why are transactions easier with money than with bartering?
With money as medium of exchange is easier than barter system. There are many reasons like barter system does not give the true value of a product and sometimes one party needs the other product but the other party does not require the other product. It creates misunderstanding and also a problem that how to evaluate the true value of the commodity. And also, money can be broken down into smaller parts like we purchase candies for like cents or pennies etc. Moreover, how can we barter for big things like house. It would be almost impossible to barter for the house with pair of glasses or pair of shoes or for a mobile phone. Barter system does not give the original value of the product or a commodity.
What is the problems with barter?
Barter usually means to exchange goods for other goods. If you wanted to barter a pig, for instance, for a cow, both animals would need to be physically exchanged. Exchanging coinage is much easier, and allows the cow to be bought at a later date when the price may have fallen.
What are the benefits of a protection sleeve for a Laptop?
The benefits of a protection sleeve for a laptop is that moving the laptop is much easier than before. The laptop also has a layer of protection when it falls on the ground.
Will it be easier wearing a compression sleeve when I run, to lose weight?
It will be easier wearing a compression sleeve when one runs to lose weight because it provides a lot of things such as protection, anti-swelling, dirt protection, and warmth.
What did the use of coins in the Persian Empire resulted in?
increased trade and an easier method of payment, a change from the barter method to amoney economy occured, a standardization of prices and payments throughout the land.
Why did merchants decide to use money instead of bartering?
Money was easier to carry and handle than goods. Money was accepted anywhere and could be used again. It was difficult to exchange the exact value of goods in barter.
What are the benefits of using data protection solutions?
The benefits of using data protection solutions is it backs up your data in an efficient way. It is easier to recover data quickly in case of a disaster.
What are the Advantages of money economy over barter trade?
Money solved all of the problems that the barter system created. This included a lack of common measure of value of commodities in barter. It also many other advantages which included portability and durability.
What impact has money made over the trade by barter economic system in nigeria?
The introduction of money in Nigeria significantly transformed the barter trade system by facilitating more efficient and scalable transactions. Money allows for easier pricing, storage of value, and a wider range of goods and services to be exchanged, overcoming the limitations of barter, such as the need for a double coincidence of wants. This transition has enhanced economic growth, encouraged specialization, and improved overall market efficiency in Nigeria. Additionally, it has enabled access to credit and investment opportunities, further driving economic development.
Should a business have continuous data protection?
Yes, it is very important for a business to have continuous data protection. This gives businesses the opportunity to recover information from a specific point in time and can make recovering from data corruption much easier.
