In a _ economy, individual goods are traded for other goods

History

2 answers:

Alexeev081 [22]3 years ago

6 0

In a barter economy, individual goods are traded for other goods

Greeley [361]3 years ago

6 0

The correct answer is in a BARTER economy, individual goods are traded for other goods.

Barter is the act of trading goods or services between two or more people. They do not use money, checks or credit cards. Bartering could be understood by the exchange of one product or service in return for another product or service from another person.

No so long ago, bartering was the essential mean for trading. Like in the Aztec Empire in Mesoamerica. Before the Spanish conquest, many tribes like the Aztecs in Mexico, and some other tribes of South America, used bartering as a mean to Exchange products and services. One party share one pound of meat and the other gave three pounds of wheat.

All these changed with the use of currency or monetary system.

You might be interested in

Can someone please help me with this

Fantom [35]

Can’t see the picture

7 0

3 years ago

Read 2 more answers

How did the U.S. government change its response to the Great Depression

maks197457 [2]

Answer:

it increased impacts from other countries in order to collect high tarrifs

4 0

3 years ago

World War 1 was started when a _____ group assassinated the Austro-Hungarian heir to the throne.

saul85 [17]

Answer: nationalist

I’m not a 100% sure

4 0

3 years ago

2 3 4 5 6 7 8 9 10

vodka [1.7K]

Answer:

Explanation:

4 0

3 years ago

Which explains why the price indicated by p2 on the graph is higher than the equilibrium price? As prices rise, quantity demande

blondinia [14]

The economy operates according to the law of supply and demand for goods and services. According to this theory, the interaction between supply and demand for a good or service fits and the vector of adjustment is price.

If the price is high, there is more supply than demand. If the price is low, there is more demand than supply. If demand increases, price increases and supply increases. If demand falls, the price falls. That is, the price makes the interaction. There will be a moment where the quantity offered is exactly equal to the quantity demanded, at which point the price practiced is the equilibrium price.

So if an economy is in equilibrium at a time and then the price charged is higher than the equilibrium price, it means that demand has gotten higher than supply.

However, none of the alternatives would explain why a price is charged above the equilibrium price. The answer is the reverse of what is written in alternative (A). The truth is this: As the quantity demanded rises, the price rises above the equilibrium price. This is the answer.

The alternative (B) is true, although it does not answer the question of the problem. If prices rise, demand falls. This is because the high price discourages consumption.

BTW, I'm an economist and I'm sure.

5 0

3 years ago

Read 3 more answers