Andrewand Timmy Are Neighbors

question 157

Multiple Choice

Andrewand Timmy are neighbors.Andrew owns a boat but never uses it.Timmy owns a car that he no longer needs since his son left for college in another state.Andrew needs a car.Andrew and Timmy make an agreement to trade the boat for car.What is the economic term given to this kind of exchange?

• A) Barter.
• B) Buying and selling.
• C) Bargained-for exchange.
• D) Replevin.

---

Definitions:

Merchant Wholesalers

Businesses that buy goods in large quantities from manufacturers and resell them in smaller quantities to retailers.

Catalog Retailers

Companies that sell products through printed or online catalogs, allowing customers to shop remotely.

Nonstore

Retail operations that sell products outside of a traditional physical store setup, including online, mobile, and catalog sales channels.

Internet Retailing

The selling of goods and services through the internet, encompassing various e-commerce platforms and websites.