Why does money make exchange easier than barter?
It combines selling with buying, so both traders must exchange at the same time.
It removes the need for wants, so consumers no longer need to choose products.
It matches buyers with sellers, so a double coincidence of wants is always created.
It separates selling from buying, so no double coincidence of wants is needed.
Flashcards for OCR GCSE Economics The role of money and financial markets, covering the key terms, formulae and calculations you need to recall for Component 01 and Component 02. 28 cards, matched to the OCR GCSE Economics (J205) specification. Recall questions account for roughly 35% of marks at GCSE Economics, so these target the marks you can secure before the paper starts.
