In a world where 70 percent of all countries do not have convertible currencies or where government-owned enterprises lack sufficient cash or credit for imports,other means of payment are used.An estimated 15 to 20 percent of world trade involves _________,the practice of using barter rather than money for making global sales.

Question

Quizplus · Accepted Answer

The practice of using barter rather than money for making global sales is known as countertrade, which involves the exchange of goods and services for other goods and services instead of using cash or credit. It is estimated that 15 to 20 percent of world trade involves this form of payment due to the lack of convertible currencies or credit availability in many countries. Therefore, the best choice is B.

In a World Where 70 Percent of All Countries Do