Barter is the trade of goods or services with ?
Correct answer: C. exchange of goods and services
- A. free exchange of money
- B. exchange of services
- C. exchange of goods and services
- D. None of them
Explanation
Barter is direct exchange of goods or services without using money, so the broad definition is an exchange of goods and services. Option B is too narrow because barter may involve goods, services, or both.
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Individual consumers, firms and markets are examined through demand and supply, elasticity, consumer choice, production, costs, revenue and the determination of prices and output. The topic also covers market structures such as perfect competition, monopoly and oligopoly, plus market failure, externalities and the distinction between microeconomic decisions and economy-wide outcomes.
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