Money is omitted in a barter transaction.In a barter transaction, two parties trade one basket of goods and services for another basket containing additional goods and services.
<h3>What is barter transaction?</h3>
- A barter transaction entails two parties and involves the exchange of one basket of products and services for another basket including other commodities and services. without a related monetary payment.
- In the alternative trading system of barter, products and services are traded directly for one another without the use of money as a middleman. For instance, a farmer may trade a pair of shoes from a shoemaker for a bushel of wheat.
- Several different kinds of barter exchanges are briefly described and explained here.
- Direct bartering is the direct exchange of goods or services between two or more parties.
- retail barter is exchanged between small enterprises through a trade exchange that is locally arranged.
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Answer: False
Explanation:
While Proprietorship do indeed have the tax advantage of not having to pay Corporate income tax, the same cannot be said for the ease at which they can raise capital.
In general, Proprietorships find it hard to raise capital as investors will be worried of investing into a one person run operation. They would rather prefer that their investments were protected by the law and that the company had enough experienced people on board as well which is why they would prefer a Corporation.
Even getting loans as a Proprietorship can be hard because banks will set a high rate for the business to cater for a default risk.
If England exports cars to Australia and imports cheese from Mexico. Then, "England has an absolute advantage relative to Australia in producing cars, and Mexico has an absolute advantage relative to England in producing cheese".
<h3>What is import and export of goods?</h3>
Exporting is the process of selling goods and services that are produced or sourced domestically in other nations.
The advantages of exporting are-
- reaching out on a worldwide level.
- higher profits.
- risk reduction
- increased market share and competition.
- the benefits of scale.
- government assistance.
Purchasing products and services abroad and bringing them back home is referred to as importation.
The importance of importing are-
- launching fresh goods on the market.
- lowering expenses
- being a pioneer in the field.
- providing goods of excellent quality.
know the difference between imports and exports, here
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Answer:
The human capital theory
Explanation
The human capital theory explores the relationship between investment in human capital and earnings.
Investment in human capital can take the form of education or training.
The theory suggest that those that invest in human capital earn higher income
The human capital theory also explores pattern of earnings. The theory suggests that the earnings of young people would be low as they would forgo earnings to invest in human capital . Earnings would increase as one gets older because old people invest less in education and training
