In the late 1970s, LarceCo, a tea seller, entered the Russian marketplace. LarceCo traded tea products for Russianmade vodka because of the lack of a tradable currency in the Soviet Union. This is an example of _____.

Question

In the late 1970s, LarceCo, a tea seller, entered the Russian marketplace. LarceCo traded tea products for Russian­made vodka because of the lack of a tradable currency in the Soviet Union. This is an example of _____.

Quizplus · Accepted Answer

This is an example of countertrade, which refers to the practice of exchanging goods or services for other goods or services instead of using a currency. In this case, LarceCo traded tea for vodka because currency was not easily available in the Soviet Union.

In the Late 1970s, LarceCo, a Tea Seller, Entered the Russian