Andrew and Timmy are neighbors. Andrew owns a boat but never uses it. Timmy owns a car that he no longer needs since his son left for college in another state. Andrew needs a car. Andrew and Timmy make an agreement to trade the boat for car. What is the economic term given to this kind of exchange?
A. Barter.
B. Buying and selling.
C. Bargained-for exchange.
D. Replevin.
Answer: A
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