How does money differ from barter?
(1 point)
Responses
Money is mostly important as a way to get goods and services.
Money is mostly important as a way to get goods and services.
Money is used to exchange goods and services.
Money is used to exchange goods and services.
Money has value only because people agree that it has value.
Money has value only because people agree that it has value.
Money has been used for thousands of years.
Money has value only because people agree that it has value.
The main difference between money and barter lies in the roles they play in the exchange process. Barter involves the direct exchange of goods and services without a universal medium of exchange, while money serves as a widely accepted intermediary that facilitates trade by providing a standard of value. Money's value is typically established by a social convention or governmental decree, and its effectiveness relies on a collective agreement among its users about its worth.