Economics 2281 · O Level · Money and banking

Money and banking — practice question

People made their own goods on their own. Later, they chose to specialise. They then joined together and exchanged their skills with one another, but no money was used. What is not likely to be the outcome 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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