Kayla is part of a group of parents that have a carpool arrangement to get their kids to and from debate team practices and matches. Kayla picks up all of the kids and takes them home one week in exchange for another parent doing it the following week. This is an example of what kind of arrangement that is an element of a traditional economy?
O scarcity
O bartering
O elastic
O laboring
1 answer
The correct answer is bartering. In this carpool arrangement, the parents are exchanging their services (driving the kids to and from debate team practices) without using money. This type of exchange is known as bartering, which is an element of a traditional economy where goods and services are traded directly without the use of currency.
1 answer