Read the two statements and choose the correct option.
I. Money removes the need for a double coincidence of wants.
II. Money removes the scarcity of goods and services.

Only ICorrect answerYour answerOnly IICorrect answerYour answerBoth I and IICorrect answerYour answerNeither I nor IICorrect answerYour answer

Show the answer and explanation

CorrectNot quiteAnswer A

Correct answer: A

A seller accepts money and spends it on anything, so no matching of wants is needed. I is true.
Money makes exchange easier but does not create more goods. II is false.

Ten questions from Money and Its Functions, at your own pace.

Ten questions from Money and Its Functions, at your own pace.

Read the two statements and choose the correct option.I. Money removes the need for a double coincidence of wants.II. Money removes the scarcity of goods and services.