An isolated community uses barter to exchange goods and services. Table 1 shows how an average worker uses 36 working hours each week.
| Activity | Average time each week |
|---|---|
| Producing goods or providing services | 24 hours |
| Finding another trader and agreeing a swap | 12 hours |
Only 45% of attempted barter exchanges are completed.
Using Table 1, explain how replacing barter with money could increase weekly output in the community.
60 exam-style questions on AQA GCSE Economics 2.5 The role of money and financial markets, covering 2.5.1a Functions of money, 2.5.1b Definition of money, 2.5.2a Agents in the financial sector, 2.5.2b The role of the Bank of England, and 2.5.2c The role of high street banks. Each one has a worked solution and a mark scheme showing where the marks go.