Question
Why is a system of currency exchange necessary for international trade?
A-Nearly all world currencies are worthless on the world market.
B-Those buying goods on the world market only accept payment in gold and silver.
C-There must be a way to pay for goods purchased from countriess with different types of currencies.
D-Most goods bought on the international market must be bought and paid for using United States dollars only.
A-Nearly all world currencies are worthless on the world market.
B-Those buying goods on the world market only accept payment in gold and silver.
C-There must be a way to pay for goods purchased from countriess with different types of currencies.
D-Most goods bought on the international market must be bought and paid for using United States dollars only.
Answers
GPT-4o mini
The correct answer is:
**C - There must be a way to pay for goods purchased from countries with different types of currencies.**
A system of currency exchange is necessary for international trade because different countries have their own currencies, and a mechanism is needed to convert one currency into another to facilitate the buying and selling of goods and services across borders.
**C - There must be a way to pay for goods purchased from countries with different types of currencies.**
A system of currency exchange is necessary for international trade because different countries have their own currencies, and a mechanism is needed to convert one currency into another to facilitate the buying and selling of goods and services across borders.