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What does barter involve?
A
- Medium of exchange
- Store of value
- Unit of account
- Means of deferred payment
B
Exchanging one good or service directly for another, without money.
C
Writing debts in money makes borrowing and lending possible through a means of deferred payment.
D
A double coincidence of wants: each person wants exactly what the other offers.
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2.8.1 Money as a medium of exchange Flashcards
23 flashcards on OCR GCSE Economics 2.8.1 Money as a medium of exchange: the key terms, formulae and calculations you need to recall for Component 01 and Component 02.