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
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:
- Investing: This refers to allocating resources, usually money, in order to generate income or profit.
- Exchanging: While this term is broad, it does not specifically imply the direct trade of goods and services without currency.
- Bartering: Correct answer, as it directly involves the trade of goods and services without using money.
- 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.
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