After using the barter system, it was decided that a simpler medium of exchange needed to take place, and the result was to
A) make it possible for any item to be freely converted to any other good upon agreement between parties.
B) determine set values for types of goods, so they could be converted more easily to other goods.
C) reduce the list of items that could be used as currency.
D) decide on a single item that could be freely converted to any other good upon agreement between parties.
E) add a middleman to all transactions to mediate between the buyer and seller.

Question

Quizplus · Accepted Answer

Before fiat money, the trade of goods and services was accomplished through bartering-trading one good or service for another of similar value. There had to be a simpler way, and that was to decide on a single item-money-that can be freely converted to any other good upon agreement between parties.

After Using the Barter System, It Was Decided That a Simpler