Which of the following terms is used to refer to the exchange of goods and services for other goods and services instead of money?
A) fiat money
B) letter of credit
C) barter
D) guanxi

Question

Quizplus · Accepted Answer

Barter refers to the exchange of goods and services for other goods and services, without the use of money. Fiat money is legal tender declared by the government, letter of credit is a financial document used as a guarantee for payment, and guanxi refers to the Chinese concept of building and maintaining social relationships.

Which of the Following Terms Is Used to Refer to the Exchange