The use of money contributes to economic efficiency because group of answer choices it is necessary for the creation of capital goods. roundabout production could not occur without the availability of money. it promotes specialization by overcoming the problems with barter. governmental direction of the production and distribution of output can be avoided by using money.

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09-06-2022
Business

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The use of money contributes to economic efficiency because group of answer choices it is necessary for the creation of capital goods. roundabout production could not occur without the availability of money. it promotes specialization by overcoming the problems with barter. governmental direction of the production and distribution of output can be avoided by using money.

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vtalishathapar vtalishathapar · Answer 1 · 2022-06-22T09:40:37+02:00

Money solves the various problems that arise in the barter system. Money's vital function is as a medium of exchange to facilitate transactions.

What is a barter system?

A Barter System is a system in which the exchange of goods is only considered by both parties; no money exists that was not a fair consideration at all times.

Thus, before money, all transactions would have to be conducted by barter, which involves the direct exchange of one good or service for another.

Learn more about Barter System here:

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