Best answer

1 Answer. (i) Transaction system is better than barter system because double coincidence of wants creates problem. ... (iv) In contrast, in an economy where money is in use; money by providing the crucial intermediate step eliminates the need for double coincidence of wants.

Answered by: Shelly Pritchard Date created: May 12, 2022

Which president took the money from Social Security?

Asked By: potter1024 Date created: Apr 27, 2022

The Social Security system is primarily a pay-as-you-go system, meaning that payments to current retirees come from current payments into the system. In 1977, President Jimmy Carter and the 95th Congress increased the FICA tax to fund Social Security, phased in gradually into the 1980s.

Answered By: Tony Delroy Date created: Apr 29, 2022

Who makes more money Mcdonalds or Burger King?

Asked By: kuro Date created: Apr 27, 2022

McDonald's: $37 billion in system-wide U.S. sales. ... Burger King: $10 billion in system-wide U.S. sales. Taco Bell: $9.8 billion in system-wide U.S. sales. Wendy's: $9.3 billion in system-wide U.S. sales.

Answered By: Flimzy Date created: Apr 29, 2022

Why did money replace the barter system?

Asked By: StephenKing Date created: May 08, 2022

There is no record there was ever a “Barter System” before money. Now to answer your question, bartering/treading was replaced by money because it is more convenient. However, modern Barter Systems uses a medium of exchange (money) to make their trades, or transactions, just like a bank transaction.

Answered By: Elad Date created: May 08, 2022

Why do we need money economics?

Asked By: Marko Ivkovic Date created: May 12, 2022

Medium of exchange: The most important function of money is that it acts as a medium of exchange. Money is accepted freely in exchange for all other goods. Barter system is very inconvenient. So we can measure the value of a good by the money we pay for it.

Answered By: Jordão Date created: May 13, 2022

Why is money a better system than barter?

Asked By: Hristo Date created: Apr 29, 2022

Hey is money better than barter system in trade}? The main advantage of money over barter is that money is always going to be usable. Barter is very often not possible. This is because of the need for what is called a “coincidence of wants” (sometimes called a “double coincidence of wants”).

Answered By: Josh Kelley Date created: Apr 29, 2022

Why did money replace the barter system quizlet?

Asked By: Oliver Date created: May 04, 2022

Why did money replace the barter system? It was hard to trade things all at once. The worth of products were hard to determine.

Answered By: Hans Z. Date created: May 06, 2022

Did money replace the barter system?

Asked By: Amal K Date created: May 06, 2022

Why did money replace the barter system? In a barter economy, a buyer must find a seller in search of the exact goods that he/she has to offer. ... With the gold standard, the money supply would be tied to the amount of gold the country possessed, and a restricted money supply could impede economic growth.

Answered By: Yugal Jindle Date created: May 09, 2022

What is the new money system called?

Asked By: Lars Kotthoff Date created: May 11, 2022

The global monetary system is what's called a Fiat system in which money is a storage medium for purchasing power and a substitute for barter.

Answered By: Musa Date created: May 13, 2022

Why is Canadian money colorful?

Asked By: Noitidart Date created: May 01, 2022

The main reason why Canadian currency comes in so many colours is to ensure people can tell them apart. While each bill has a different person on the front and image on the back, the colour system makes it easier for people to sort their money.

Answered By: Alexander Artemenko Date created: May 03, 2022

Should government spend money on railways rather than roads?

Asked By: Rich Scriven Date created: May 12, 2022

Nowadays, transportation becomes a controversial main issue as a fast and safe transport system sustains the development of a country. The government should spend more money on a railway system as it would be better to develop this track than roads. ... These improved railways save people's valuable time every day.

Answered By: Jeffrey L Whitledge Date created: May 12, 2022

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