Susan hired an attorney to represent her in a court case involving an auto accident. The attorney charged her a $2,000 retainer fee for the services. Terry needed a haircut; the local stylist charged him $22 for his services. Aaron mowed his neighbor's lawn; in exchange, the neighbor repaired his gutters. The attorney fees, the $12 charged by the hair stylist, and the exchange of lawn mowing for gutter repair are all examples of
A) premiums.
B) barter.
C) the profit motive.
D) price.
E) outlays.

Question

Quizplus · Accepted Answer

The attorney fees and the $22 charged by the hair stylist are examples of price, which is the amount of money required to purchase a service. The exchange of lawn mowing for gutter repair is an example of barter, but since the question asks for a commonality among all examples, "price" is the most fitting term for the monetary transactions.

Susan Hired an Attorney to Represent Her in a Court