Asked by Justene Hirsig on May 06, 2024
Verified
Which of the following is an example of barter?
A) A parent gives a teenager a $10 bill in exchange for her babysitting services.
B) A homeowner gives an exterminator a check for $50 in exchange for extermination services.
C) A barber gives a plumber a haircut in exchange for the plumber fixing the barber's leaky faucet.
D) A doctor performs surgery on a patient whose insurance pays 100% of the bill.
Barter
Barter is a system of exchange where goods or services are directly traded for other goods or services without using a medium of exchange, such as money.
Extermination Services
Professional services aimed at eliminating unwanted pests, insects, or animals from homes, businesses, or specific areas.
Babysitting Services
A service that involves taking care of children on behalf of the children's parents or guardians for a temporary period.
- Absorb information about the primary responsibilities of money and its influential importance in the economic framework.
Verified Answer
TT
tonisha thompsonMay 12, 2024
Final Answer :
C
Explanation :
Barter involves trading goods or services directly without the use of money. In choice C, a haircut is exchanged for plumbing services, which is a direct trade of services without involving money.
Learning Objectives
- Absorb information about the primary responsibilities of money and its influential importance in the economic framework.