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3241004551 [841]
3 years ago
14

Why is using money as a medium of exchange preferable to bartering?

Business
1 answer:
Y_Kistochka [10]3 years ago
8 0

Answer:

Money as a medium of exchange is more preferable because of its less cumbersome nature.

Explanation:

Money as a medium of exchange is more suitable because of its less cumbersome nature. Money was invented because of the inefficient nature of the barter system.

Money is easily stored compared to a barter system.

Money as a medium of exchange eliminates the barter system's problem of double coincidence of wants. Barter works when you trade things you own for things you want. If for example you want a bicycle and you own a goat, you have to look for someone who wants a goat and owns a bicycle willing to make an exchange, which can be quite difficult.

Money is an acceptable medium of exchange to all parties which makes it more preferable to bartering.

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