In a world where 70 percent of all countries do not have convertible currencies or where government-owned enterprises lack sufficient cash or credit for imports, other means of payment are used. An estimated 15 to 20 percent of world trade involves________ , the practice of using barter rather than money for making global sales.
A)cross-cultural exchange
B)predatory pricing
C)economic adaptation
D)a countertrade

Question

Quizplus · Accepted Answer

The practice described is known as countertrade, which involves the exchange of goods and services without the use of currency. This is often used in countries where traditional currency exchange is difficult, and allows for international trade to occur despite financial obstacles.

In a World Where 70 Percent of All Countries Do