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JAMB Economics 2011 Question 30

Question 30

Money and Inflation

During the era of barter, money was generally in the form of

  1. A.notes
  2. B.precious metals
  3. C.coins
  4. D.commodities.
Show the answer and explanation

Answer: D (commodities.)

Explanation

Before coins and notes, goods such as cowries, salt and cattle were used as money (commodity money).