Test Your Knowledge
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1. What is the primary challenge of the barter system?
A) It requires standardization of values
B) It involves the double coincidence of wants
C) It allows for indirect exchange
D) It is difficult to implement in small communities
2. How did the introduction of coins impact early trade?
A) It created a new form of digital currency
B) It simplified trade by standardizing transactions
C) It reduced the need for a store of value
D) It led to the creation of the first paper currency
3. What is the main feature that distinguishes cryptocurrencies from fiat money?
A) Cryptocurrencies are controlled by central banks
B) Cryptocurrencies are tied to physical commodities like gold
C) Cryptocurrencies are decentralized and operate on blockchain technology
D) Cryptocurrencies are issued by governments as legal tender