how does the existence of a single accepted money help consumers?

Question

1. It makes it possible to make large purchases

2. It makes it easy to make a profit of saving account

3. It makes it easy to complete the price of good and services

4. It makes it possible for producers to adjust prices down for sale

Answer 1

The existence of a single accepted form of money provides several advantages to consumers and the economy as a whole. Among the options you've provided, here's how they relate to consumer benefits:

1. It makes it possible to make large purchases:
Having a widely accepted form of money does indeed make large purchases more feasible. A standardized currency that is accepted by everyone within an economy allows for the accumulation of wealth and the ability to exchange large sums of money for goods like houses, cars, or other significant investments. Without a single accepted form of money, it would be much more challenging to gather the equivalent value in a barter system or with diverse kinds of currency.

2. It makes it easy to make a profit of saving account:
While the existence of a single accepted money doesn't directly make it "easy" to profit from a savings account, what it does provide is a stable store of value that can be deposited in such an account. This encourages saving, as individuals can be confident that the money they save will retain its value and be accepted in future transactions. Nevertheless, earning a profit from interest rates in a savings account is more related to monetary policy and banking practices than the existence of a single currency per se.

3. It makes it easy to compare the prices of goods and services:
This is indeed an important benefit. A single accepted currency allows consumers to easily compare prices across different sellers and make informed purchasing decisions. In a system without a common currency, comparing the value of goods would be incredibly difficult, as you'd have to account for the exchange rates between different types of money or trade items.

4. It makes it possible for producers to adjust prices down for sales:
While a single accepted currency makes the process of adjusting prices simpler and more transparent for both consumers and producers, the ability for producers to adjust prices down for sales is not exclusive to an economy with a single currency. However, the existence of a common currency certainly streamlines transactions and makes it easier to communicate discounts and price changes to consumers.

Overall, a single accepted form of currency simplifies transactions, reduces transaction costs, and provides stability and predictability in the economy—all of which are beneficial to consumers.

Answer 2

Choose a answer bro.

Answer 3

Apologies for the confusion. The most relevant answer to the question of how the existence of a single accepted form of money helps consumers is:

3. It makes it easy to compare the prices of goods and services.

A single currency simplifies the process of comparing prices, which is critical for consumers who are looking to make the best purchasing decisions.