Home Inspirations
Hailey works for her father in a family-owned business called Home Inspirations, a bedding company that has been in operation since the 1800s. When her father retires, Hailey plans on taking over the business. Hailey is aware of many things about the company that she likes, and a few things that she does not. She has particularly noted that when the economy has low unemployment and high total income, sales are great. However, any other time, sales are not so good.
Currently, all of the bedding items are created in one place and everyone works on various tasks every day. Hailey is thinking about streamlining the production process so that individuals would be responsible for only one task. She believes that if production would increase, she could sell her products at a lower price and increase revenu
-Marcel and Charles are neighbors. Marcel owns a boat but never uses it. Charles owns a car that he no longer needs since his son left for college in another state. Marcel needs a car. Marcel and Charles make an agreement to trade the boat for car. What is the economic term given to this kind of exchange?

Question

Home Inspirations
Hailey works for her father in a family-owned business called Home Inspirations, a bedding company that has been in operation since the 1800s. When her father retires, Hailey plans on taking over the business. Hailey is aware of many things about the company that she likes, and a few things that she does not. She has particularly noted that when the economy has low unemployment and high total income, sales are great. However, any other time, sales are not so good.
Currently, all of the bedding items are created in one place and everyone works on various tasks every day. Hailey is thinking about streamlining the production process so that individuals would be responsible for only one task. She believes that if production would increase, she could sell her products at a lower price and increase revenu
-​Marcel and Charles are neighbors. Marcel owns a boat but never uses it. Charles owns a car that he no longer needs since his son left for college in another state. Marcel needs a car. Marcel and Charles make an agreement to trade the boat for car. What is the economic term given to this kind of exchange?

Quizplus · Accepted Answer

Barter is the direct exchange of goods or services without using money, which is what Marcel and Charles are doing by trading the boat for the car.

Home Inspirations Hailey Works for Her Father in a Family-Owned Business Called