Multiple Choice QuestionAnything that can be used for payment of goods and services is defined as ______.Multiple choice question.bartermoneytradefinance

Break Down the Problem

1. Identify the definitions of each option provided: barter, money, trade, and finance.
2. Determine which option best fits the definition of a medium of exchange for goods and services.

Relevant Concepts

1. Barter: The direct exchange of goods and services without a medium.
2. Money: A widely accepted medium of exchange for goods and services.
3. Trade: The act of buying, selling, or exchanging goods and services.
4. Finance: The management of large amounts of money, often involving investments.

Analysis and Detail

• Barter is not used as a direct means of payment since it involves trading goods directly.
• Money is specifically designed for use in transactions for goods and services, making it the most fitting choice.
• Trade encompasses the act of exchanging but does not pertain to the term defining payment.
• Finance relates more to the handling of money rather than being a direct form of payment itself.

Verify and Summarize

After analyzing the options, it's clear that the best answer is money since it is universally recognized and utilized for transactions.

Final Answer

money