A ____________'s principle is to trade goods and services when they cannot be traded for money.
A) letter of credit
B) draft
C) bill of exchange
D) countertrade
E) switch trading

Question

Quizplus · Accepted Answer

Countertrade refers to the exchange of goods or services for other goods or services, as opposed to using money. This is typically used in situations where monetary transactions are difficult, such as in international trade where there may be currency or regulatory restrictions. Letter of credit, draft, and bill of exchange are all financial instruments that facilitate payment for goods or services and involve the use of money. Switch trading is a type of countertrade where two parties exchange goods or services of equal value.

A ____________'S Principle Is to Trade Goods and Services When