Money as a medium of exchange
Money as a medium of exchange
Barter is the direct exchange of goods or services without money. It can fail when two people do not want each other's goods at the same time, so trade becomes slow and awkward.
Step-by-step lessons covering OCR GCSE Economics The role of money and financial markets for GCSE Economics. Each lesson works through exam-style questions in Component 01 and Component 02 format. Build a solid grasp of supply and demand and cost/revenue calculations before tackling the evaluation-heavy policy topics.