Question

While eating lunch in the cafeteria, Khalid decides that he wants to trade his honey bun for Jasmine’s bag of chips, to which Jasmine readily agrees. Why is this a good example of voluntary exchange?

Answer 1

Answer:

Both parties gave consent and one party had benefits from the exchange

Explanation:

google definition:

A voluntary exchange is the process where customers and merchants freely and without coercion engage in market transactions or exchanges. This is typically accomplished with the exchange of money for a good or service. As a result of this exchange, both the buyer and the seller are better off than they were before.

Since Jasmine, the 'seller' complied freely to Khalid's request and Khalid gets the benefit of eating what he wants to eat from the exchange, this is a good example of voluntary exchange