The direct exchange of goods and services for other goods and services is known as
A) barter.
B) purchasing power.
C) intermediation.
D) wholesale trade.
A
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Refer to Table 7-6. All of the following are terms of trade that could possibly benefit both countries except
A) 1/4 of a belt : 1 sword. B) 7/10 of a belt : 1 sword. C) 4/5 of a belt : 1 sword. D) 2/3 of a belt : 1 sword.
If an industry is made up of five identical firms, the four-firm concentration ratio is
A) 5%. B) 20%. C) 80%. D) 100%.
Increasing wage rates will result in more hours worked.
A. True B. False C. Uncertain
A pharmaceutical company faces a price regulation where it cannot charge any higher than $5,000 for a lifesaving drug. The company knows that the patients put a high value on this product and are willing to pay up to $10,000 for it. The company decides to sell the drug at $5,000 but requires the patients to purchase periodic blood testing from them for $5,000 . This is an example of
a. Tying b. Bundling c. Fraud, the company is not allowed to sell for any higher than the regulatory price d. Both A&B