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An economist would BEST describe the scenario as : Barter system
<h3>What is a Barter system?</h3>
Barter system is when commodities are exchanged against commodities. It is an act of trading goods or services between two or more parties without the use of money.
This type of trading system is an old method of exchange practised for centuries and long before money was introduced.
Examples of barter system are :
- Mangoes are exchanged for bananas.
- Salt is exchanged for onion.
- Shoes are exchanged for clothes.
Therefore, an economist would BEST describe the above scenario as barter system because both Evie and her sister exchanged their items of value between themselves.
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After Hurricane Sandy, FEMA (the Federal Emergency Management Agency) advertised on a New Jersey radio station how people affected by the hurricane could file for assistance. In the political marketplace, the decision-makers in FEMA are best characterized as bureaucrats. This is further explained below.
<h3>What are
bureaucrats?</h3>
Generally, Officials who operate in a huge administrative system are called bureaucrats.
In conclusion, Federal Emergency Management Agency (FEMA) advertised on a New Jersey radio station how residents impacted by Hurricane Sandy may apply for aid after the storm. FEMA's decision-makers are best described as bureaucrats in the political marketplace.
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Here is a Answer to your question:
Demographic segmentation divides the market into smaller categories based on demographic factors, such as age, gender, and income. Instead of reaching an entire market, a brand uses this method to focus resources into a defined group within that market.
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