A System of Exchange in Which Goods and Services Are

question 50

Multiple Choice

A system of exchange in which goods and services are traded directly for other goods and services is called a(n) _________ system.

• A)monetary
• B)barter
• C)exchange
• D)mercantile

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Definitions:

Conflict Theory

A theoretical framework that views social life as a competition among groups for power and resources, emphasizing inequality and social conflict.

Technological Progress

Technological progress is the advancement in technology that leads to improved tools, machines, processes, and systems, which contribute to an increase in productivity, efficiency, and overall societal welfare.

Globalization

The process by which businesses, technologies, and cultures begin to operate on a global scale, leading to increased interconnectedness and interdependency among nations.

Glocalization

A process combining globalization with local considerations, adapting global practices to fit local needs, cultures, and practices.