Question : Barter transaction means:
Option 1: goods are exchanged for gold
Option 2: coins are exchanged for goods
Option 3: money acts as a medium of exchange
Option 4: goods are exchanged with goods
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Correct Answer: goods are exchanged with goods
Solution : The correct answer is goods are exchanged with goods.
A barter transaction is a direct exchange of one commodity or service for another, without the use of money. A barter system involves people or organisations exchanging what they have for what they need.
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Question : Which of the following is the most problematic and primary difficulty of barter exchanges as against money-based exchanges?
Option 1: Bartered exchanges involve difficulty in preserving value.
Option 2: Barter exchanges may result in an incorrect valuation of the goods transacted.
Option 3: Barter exchanges may be imperfectly divisible.
Option 4: Barter exchanges require a double coincidence of wants.
Question : Plant and machinery are
Option 1: Producer's goods .
Option 2: Consumer's goods .
Option 3: Distributor's goods
Option 4: Free goods .
Question : Select the option that can be used as a one-word substitute for the given group of words.
The study of coins
Option 1: Currency
Option 2: Minting
Option 3: Numismatics
Option 4: Barter
Question : Directions: If A means add, B means divide, C means multiply and D means subtract, then 180 B 36 C 5 A 8 D 32 = ?
Option 1: 0
Option 2: 3
Option 3: 1
Option 4: 2
Question : Goods which are meant either for consumption or for investment are called
Option 1: final goods
Option 2: giffen goods
Option 3: inferior goods
Option 4: intermediate goods
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