The direct exchange of goods and services for other goods and services is known as

Question

Quizplus · Accepted Answer

Direct exchange of goods and services for other goods and services is referred to as barter. Choice A, primitive trade, is not a commonly used term in economics. Choice B, purchasing power trading, does not accurately describe the direct exchange of goods and services. Choice C, nonmarket trade, refers to activities that take place outside of a formal market setting, such as unpaid work done in the household.

The Direct Exchange of Goods and Services for Other Goods