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Anna11 [10]
3 years ago
11

A payments system based on money is A. more efficient than a barter economy because fewer prices are needed to establish relativ

e values between all commodities. B. less efficient than a barter economy because a money economy requires that there be a double coincidence of wants in order for there to be an exchange.
Business
1 answer:
Alchen [17]3 years ago
8 0

Answer: Option A    

Explanation: A money based payment system is the one in which the transactions involving exchange of goods and services are performed by using a common denomination called money. In such a system any commodity can be valued on the basis of money.

However in a barter system one commodity is exchanged for the other. Therefore, the double coincidence of wants is needed for fulfilling these transactions. The actual value cannot be determined for any commodity.

  From the above we can conclude that the correct option is B.

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Suppose that without specialization, Iran produces 4 barrels of oil and 6 bottles of olive oil, and Iraq produces 4 barrels of o
Elza [17]

Answer:

With specialization Iran will be able to consume 1.7 bottles of olive oil.

Explanation:

Iran produces 4 barrels of oil and 6 bottles of olive oil.

Iraq produces 4 barrels of oil and 4 bottles of olive oil.

The opportunity cost of producing a barrel of oil for Iran

= \frac{6}{4}

= 1.5

The opportunity cost of producing a barrel of oil for Iraq

= \frac{4}{4}

= 1

Iraq has a lower opportunity cost for producing oil so we can say it has a comparative advantage in producing oil.

The opportunity cost of producing a barrel of olive oil for Iran

= \frac{4}{6}

= 0.66

The opportunity cost of producing a barrel of olive oil for Iraq

= \frac{4}{4}

= 1

Iran has a lower opportunity cost for producing olive oil so we can say it has a comparative advantage in producing it.

The terms of trade with specialization are 4 barrels of oil for 4.3 bottles of olive oil, and that 4 barrels of oil are indeed traded for 4.3 bottles of olive oil.

Without trade, Iran is consuming 4 barrels of oil and 6 bottles of olive oil.

With specialization, Iran will be able to consume

= 6 - 4.3

= 1.7 bottles of olive oil

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3 years ago
Which of the following tests can be used to detect register disbursement schemes?
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Answer:

C.

Explanation:

The best test to  detect register disbursement schemes would be to Identify customer sales posted to one credit card and refunds posted to another credit card. This is because a register disbursement scheme is a type of fraud in which the employee replicates an old transaction with a new one while at the same time replacing the transaction type from debit to credit and vice-versa, in order to justify the cash withdrawal.

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When Coca Cola introduced Coke Zero,this was an example of a _____ strategy.
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Answer:

B) product line extension

Coke Zero is an example of Coca Cola expanding their line of products. They are adding in more options for consumers to buy.

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