Knowee
Questions
Features
Study Tools

The exchange of goods and services for other goods and services is referred to as Blank______.Multiple choice question.investingexchangingbarteringfinancing

Question

The exchange of goods and services for other goods and services is referred to as Blank______.

  • investing
  • exchanging
  • bartering
  • financing
🧐 Not the exact question you are looking for?Go ask a question

Solution

The exchange of goods and services for other goods and services is referred to as bartering.

Bartering is an ancient system of trade that eliminates the need for currency, allowing individuals to directly trade assets that they possess for the assets they need. In the context of the provided options:

  1. Investing: This refers to allocating resources, usually money, in order to generate income or profit.
  2. Exchanging: While this term is broad, it does not specifically imply the direct trade of goods and services without currency.
  3. Bartering: Correct answer, as it directly involves the trade of goods and services without using money.
  4. Financing: This refers to the management of large amounts of money, often involving loans or investments, not direct exchange of goods.

Thus, the most accurate term in this context is bartering.

This problem has been solved

Similar Questions

The exchange of goods and services for other goods and services is referred to as Blank______.Multiple choice question.investingexchangingbarteringfinancing

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

Items of value owned by a firm are called Blank______.Multiple choice question.expensesassetsliabilitiesrevenue

The goods and services a business uses to produce its outputs are known as ______.Multiple choice question.inputsinsertsingredients

The amount of money it costs to obtain some good, service, or other valuable thing is known as the Blank______.

1/3

Upgrade your grade with Knowee

Get personalized homework help. Review tough concepts in more detail, or go deeper into your topic by exploring other relevant questions.