The correct statement is that the Native Americans used to exchange furs for manufactured goods. Such practice of goods in exchange for goods is known as barter system. So, the correct option is C.
Barter system is one of the oldest form of trade and exchange system that has been in existence even before the invention of currency for the purpose of exchange.
<h3>Barter System</h3>
- The barter system refers to as a system under which goods and commodities are traded for the exchange of excess goods and commodities.
- The barter system has its own discrepancies and faults as there was no specific medium of exchange and this necessity led to the invention of currency notes and coins.
- The Native Americans were mostly Indians and carried hunting of animals and hence the furs obtained from animals was in excess with them and as a result, it was exchanged for finished goods.
Hence, the correct option is C that the Native Americans used furs for the exchange of manufactured goods during the days of barter exchange system.
Learn more about barter system here:
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Answer:
(A) cognitive dissonance
Explanation:
The type of cognitive dissonance that appears when a customer seems to regret her or his purchase is commonly known as buyer’s remorse. It can be because customers made an impulsive purchase and thus now is regretting his or her decision, or because the item that she or he purchases are expensive in nature. In addition to the price of the purchased item, other factors that causes buyer’s remorse to arise are high involvement of the purchaser, compatibility of the product purchased, and the purchaser’s goals.
Answer:
economic profit = $11225
Explanation:
given data
sells = 975 units
cost = $30 per unit
cost of producing goods = $15
implicit costs = $3,400
solution
total revenue = 975 × 30 = $29250
and total cost = 975 × 15 = $14625
so here Total profit will be as
Total profit = $29250 - $14625 = $14625
so here economic profit will be
economic profit = Total profit - implicit costs
economic profit = $14625 - $3,400
economic profit = $11225
Answer:
Independent sources of information
Explanation:
Magazines, consumer groups, and government agencies all represent independent sources of information.
It would be 764 have a good day bye
