Which of the following are true of a barter economy? Check all that apply. (A) Money evolved out of a barter economy as traders
sought to make trading easier.(B) The transaction costs of exchanges are lower in a barter economy than in a money economy.(C) Average living standards can be expected to be lower in a barter economy than in a money economy.
The correct answers are A) Money evolved out of a barter economy as traders sought to make trading easier and C) Average living standards can be expected to be lower in a barter economy than in a money economy.
The statements that are true of a barter economy are the following: Money evolved out of a barter economy as traders sought to make trading easier and average living standards can be expected to be lower in a barter economy than in a money economy.
In a barter economy, products and services are traded or exchanged for other things with the same value. Barter does not include cash. Many ancient civilizations used bartering for the exchange of their products. But to make trade easier, ancient civilizations like the Phoenicians invented the first kind of money to facilitate the establishment of value for goods.
Race and ethnicity are 2 very different things. Race is where you are from and ethnicity is the belonging to a culture or social group. An example of race could be Asian, as you are mostly Asian and were born there. An example of ethnicity could be an Asian that was raised in the United States. They are still that race but have picked up the American ethnicity.
Indirect benefit refers to the type of benefit that we had from the action or existence of another people. In the example, the bond that formed between the two did not necessarily exist because of their actions/behaviour but because of their similar experience of taking care of other people.
The gupta Golden Age had extensive inventions and discoveries that contributed to Hindu culture. The Islamic golden age made significant new contributions to mathematics, astronomy, philosophy, medicine and geography.
