Economics · Money and Banking
Examine the statements below regarding economic exchange mechanisms and select the most appropriate option: Assertion (A): In a barter exchange system, the requirement of a double coincidence of wants significantly enhances transaction efficiency. Reason (R): The historical adoption of money as a universal medium of exchange does away with the necessity of a double coincidence of wants.
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1A is false, but R is true✓
- 2A is true, but R is false
- 3Both A and R are true, but R is not the correct explanation of A
- 4Both A and R are true, and R is the correct explanation of A
Correct answer
A is false, but R is true
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