Question

5. Find the incorrect option:

The use of money spans a very large
part of our everyday life
When the two parties have to agree
to sell and buy each others
commodities is called double
coincidence of wants.
O
Modern forms of money include
currency paper notes and coins.
The other form in which nennio​

Answer 1

Answer:

(b) Modern forms of money include

currency paper notes and coins.

The other form in which nennio​.

Explanation:

• A 'double coincidence of desires' occurs when two parties agree to sell and buy each other's goods. That is, what one wants to sell is exactly what the other wants to purchase. This is a characteristic of the barter system.
  

Difficulties with the Barter System

• Barter trades are not possible in a vast economy.

• In a barter system, a person would suffer very high expenditures in their quest for someone to swap their excess.

• It is not possible to carry one's riches forward under the barter system.

For example, if a person is trying to barter extra rice, a lot of resources and time would be used in locating someone ready to swap things that you require.

Furthermore, keeping rice would take up a lot of room, which would be an issue if space was limited.

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Answer 2

Answer:

The use of money spans a considerable part of our life.

The incorrect option is: "The other form in which nennio​" because two parties have to agree to sell and buy each other's commodities.

Explanation:

When two people make a deal to purchase and sell each other's items, it's called a "double coincidence of wants." Specifically, the goods or services one party offers are those sought by the other. This feature characterizes the barter system.

Complications of Bartering

• In a complex market, bartering isn't viable.
• The cost of finding a partner to exchange within a barter system is significant.
• Under the barter system, wealth cannot be preserved for the future.
• Finding someone willing to trade products that you need, like rice, would involve a significant investment of time and energy.
• Moreover, storing rice would be problematic if space was scarce.

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