To Make a Trade in a Barter Economy Requires

question 45

Multiple Choice

To make a trade in a barter economy requires:

• A) currency.
• B) a check.
• C) scrip.
• D) a double coincidence of wants.

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Definitions:

Free Trade

The exchange of goods and services between countries with minimal regulatory restrictions like tariffs.

Adam Smith

was an 18th-century Scottish economist and philosopher, best known for his influential works on the principles of free market economics.

Economic Endeavors

Activities or efforts directed towards the production, distribution, and consumption of goods and services in an economy.

1970s

The decade from 1970 to 1979, marked by significant political, social, and economic changes worldwide, including the end of the Vietnam War and the energy crisis.