The use of money contributes to economic efficiency because

The answer is because money is important.

Explanation:

Money allows us to use our limited resources wisely and produce more with the same amount of resources which helps to avoid the double coincidence of wants and allows for more specialization,

it promotes work specialization.

Explanation:

Imagine a world where money didn't exist, and we would be forced to trade using a barter system. That means that we must produce the products that we need or the products that someone else needs, but that someone else must also have the product that we need. It gets a little complicated when you have to match different needs with different productive abilities.

By using money, we can forget about matching our own specific needs with the specific needs of someone else. We exchange our work for money, and with that money we purchase goods and services.

And that is one big advantage on a very small scale, imagine the advantages gained by the whole economy, e.g. the capacity of saving, investing, safe keeping, etc.

being born in poverty would limit the people's chances, opportunities and benefits.

this happen because of several things, such as:

- poor people tend to gain less access to good education and nutrition. this mean that their chance to obtain high paying jobs would also be limited.

- poor people tend to socialize with other poor people while the rich tend to socialize with other rich people. this means that simply throguh their social circle, rich people would have more business opportunities compared to the poor people.

- rich people tend to have more capital in their disposal. this would benefit them in business since it is far easier for them to fund their business operation compared to poor people.

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