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1.4 Production, costs and revenue

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Question 19

A transition from a barter economy to one that uses money primarily as a medium of exchange is most likely to result in:

an increase in the transaction costs of trading goods and services.

an expansion of trade and greater specialisation.

a guarantee that the purchasing power of savings remains entirely constant.

a reduction in the need for a common unit of account.

1.4 Production, costs and revenue Questions

  1. A Level
  2. /Economics
  3. /1.4 Production, costs and revenue