Question

Evie wants her sister's cell phone. Her sister wants Evie's television. They come to an agreement that they will exchange these items of value.
How would an economist BEST describe this scenario?

О А.

Both girls are offering a consideration.

OB.

Both girls are giving each other power of attorney.

Both girls are agreeing to create a living will.

Ос.

OD

Both girls are rejecting a concurrence of wills.

Answer 1

An economist would BEST describe the scenario as : Barter system

What is a Barter system?

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.

Learn more about barter system here : https://brainly.in/question/1821688