Max spends most of his time in the house taking care of his children and his sister's children.He cooks for them,takes them to school,and keeps an eye on them when they get out of school in the afternoons and in the summertime.In exchange for this help,his sister lends his family an extra apartment she has in her multifamily home.What is the term that sociologists use to refer to this kind of transaction?

Question

Quizplus · Accepted Answer

This type of transaction is referred to as an informal economy, which involves the exchange of goods and services without the involvement of formal institutions or contracts. In this case, Max is providing childcare and cooking services in exchange for the use of his sister's extra apartment, without any legal contracts or agreements.

Max Spends Most of His Time in the House Taking