In the late 1970s, LarceCo, a tea manufacturing company, entered the market of a developing country called Fantesnia. As there was a lack of hard currency in Fantesnia, LarceCo was involved in a barter system. It exchanged its tea-based products for the local vodka of Fantesnia. This scenario illustrates that LarceCo had engaged in _____.

Question

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LarceCo engaged in countertrade, which is a form of international trade where goods and services are exchanged for other goods and services instead of using hard currency.

In the Late 1970s, LarceCo, a Tea Manufacturing Company, Entered