A(n)________ occurs when Rhonda Albers trades Max Lynch three hours of babysitting his three-year-old daughter for fixing the hole in her porch roof.
A)differential benefit
B)promotion
C)exchange
D)reciprocal loss
E)virtual trade

Question

Quizplus · Accepted Answer

This situation describes an exchange, where Rhonda and Max are trading goods/services of equal value. They agree on the terms of the exchange, and both benefit from it. Option A, differential benefit, does not accurately describe this situation as both parties are receiving equal benefit. Option B, promotion, is not relevant to this situation. Option D, reciprocal loss, does not accurately describe the situation as both parties are exchanging goods/services of equal value. Option E, virtual trade, is not relevant to this situation as it does not involve digital or online transactions.

A(n)________ Occurs When Rhonda Albers Trades Max Lynch Three Hours