Asked by Andrea S. Marrero on Jun 30, 2024
Verified
Barter
A) is the major means of exchange in centrally planned economies.
B) accounts for over 30 percent of the dollar volume of all exchange in the U.S. economy.
C) entails the exchange of goods for goods.
D) is used to circumvent the problem of a lack of coincidence of wants among potential buyers and sellers.
Centrally Planned Economies
Centrally planned economies are those in which the government or central authority makes all decisions regarding the production and distribution of goods and services.
Lack Of Coincidence
The situation where potential barter trades do not occur due to the absence of a mutual want by the parties involved, a challenge in barter systems.
- Understand the concept and implications of barter in different economic systems.
Verified Answer
JL
Jasmine LeighJul 06, 2024
Final Answer :
C
Explanation :
Barter entails the exchange of goods for goods.
Learning Objectives
- Understand the concept and implications of barter in different economic systems.
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