Economics 0455 · IGCSE · Money and banking

Money and banking — practice question

People made their own goods at first. Later, they chose to specialise. They came together as a group and exchanged their skills with one another, but no money was used. What is not likely to happen as a result for the group?

  • AIt will enjoy a rise in its material standard of living.
  • BIt will have a wider choice of goods and services.
  • CIt will need to use a system of barter.
  • DIt will save time in obtaining goods and services.

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