A(n) ________________Is Anything Obtained from the Environment to Meet Our

question 38

Short Answer

A(n) ________________is anything obtained from the environment to meet our needs and wants.

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Definitions:

Coincidence of Wants

A situation in barter economies where two parties each possess an item the other wants, allowing for a direct exchange without the need for a medium of exchange like money.

Barter

The direct exchange of one good or service for another good or service.

Barter

A system of exchange where goods or services are traded directly for other goods or services without the use of money.

Exchange of Goods

The act of giving one item of value in return for another, especially in a commercial context.