Money is able to function more as a medium of exchange wh...
Money is able to function more as a medium of exchange when
There is a fall in production
More prople engage in subsistence production
Individuals and nations are self-sufficient
There is specialization of labour
Correct answer is D
Money is able to function more as a medium of exchange when there is specialization of labour. Specialization of labour, on the other hand, increases the need for money. This is because specialization means that people produce different goods and services, which they then trade with each other. Money is needed to facilitate these trades.
Which of the following can have their shares quoted on the stock exchange? ...
In order to accelerate economic development, a country must ...
A major factor affecting the value of money is the ...
In certain circumstances, a centrally planned economy adopts the rationing system because of ...
During inflation, the appropriate fiscal measure to adopt is to ...
A company's expenditure on raw materials is termed as_______? ...