How does the existence of a single type of accepted money help consumers?
(1 point)
Responses
It makes it possible to make large purchases.
It makes it possible to make large purchases.
It makes it easy to make a profit on savings accounts.
It makes it easy to make a profit on savings accounts.
It makes it easy to compare the price of goods and services.
It makes it easy to compare the price of goods and services.
It makes it possible for producers to adjust prices down for sales.
The existence of a single type of accepted money helps consumers because:
It makes it easy to compare the price of goods and services.
Having a uniform currency allows consumers to easily compare the prices of different goods and services, simplifying their buying decisions. It standardizes the way prices are represented, ensuring that consumers do not need to deal with the complexities of currency exchange or barter systems to determine the value of what they are purchasing. This price transparency facilitates competition among producers, which can lead to better quality and prices for consumers.