Briefly compare and contrast barter trade with the money system (monetary system). Why the preference of one over the other?

SHORT DISCUSSION QUESTIONS!

  1. Briefly compare and contrast barter trade with the money system (monetary system). Why the preference of one over the other?
  2. Discuss ways to navigate economically fluctuations to avoid a possible recession as it happened in 2007-2010.
  3. Income statement, Balance Sheet, and Cash Flow statement are the three major financial statements of a business entity. Income statement reports the result of operating activities of a business during the fiscal year while the Balance Sheet shows the financial position (sources of resources and the obligations/claims against those resources. The Cash Flow statement identifies the cash that is flowing in and out of the company. Explain how the three statements are interconnected. Then explain which of these statements is the most important to a business.  Why or why not? Provide a persuasive basis for your answer