Question

(i) Commodity for commodity is known as:
(a) Monetary System
(c) Exchange Rate

(b) Barter System
(d) Foreign Exchange Rate.
​

Answer 1

(b) Barter System

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Answer 2

A commodity is a basic good used in commerce that is interchangeable with other goods of the same type. Commodities are most often used as inputs in the production of other goods or services. ... When they are traded on an exchange, commodities must also meet specified minimum standards, also known as a basis grade.

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