The trade of things of value between a buyer and a seller so that each is better off as a result is referred to as a(n):
A)demand.
B)want.
C)exchange.
D)necessity.
E)need.

Question

Quizplus · Accepted Answer

The definition provided perfectly describes the concept of an exchange, which involves both parties receiving something of value that they desire, resulting in an increase in overall satisfaction or utility. Choices A, B, D, and E all do not fully encapsulate the concept of an exchange.

The Trade of Things of Value Between a Buyer and a Seller