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What is exchanging one good for another called?
It could be simple trading, bartering, or depending on the good, purchasing. A bartering economy is an economy that lacks money. Because there is no money, the agents in the economy only trade goods for other goods. This is called bartering. Calling it trade is a dictionary definition. Calling it purchasing is another dictionary definition, but could refer to how sometimes in a bartering economy one good becomes monetized (it acts like a currency). One good example of this is cigarettes in prisons.
What economic system is bartering in?
an economic system based on exchanging goods rather than paying for them- apex :)
What does it mean when tasks in an economy are specialized?
When tasks in an economy are specialized there are a number of things that happen. This will enhance efficiency and there will be increased production level as each department is monitored individually.
Why can the global economy have enough specialized production?
The international division of labor
What are three limitations of bartering?
The three limitations of bartering are desirability, transferability and divisibility.
What was the very first colonies economy?
bartering
What is a major of traditional economy?
Bartering for goods and services
What is a major feature of traditional economy?
Bartering for goods and services
What is exchanging one good for another called?
It could be simple trading, bartering, or depending on the good, purchasing. A bartering economy is an economy that lacks money. Because there is no money, the agents in the economy only trade goods for other goods. This is called bartering. Calling it trade is a dictionary definition. Calling it purchasing is another dictionary definition, but could refer to how sometimes in a bartering economy one good becomes monetized (it acts like a currency). One good example of this is cigarettes in prisons.
What was the Iroquois Indians economy like?
It was a traditional economy based on customs and traditions. They had no form of currency, but instead used a system of trading and bartering.
What economic system is bartering in?
an economic system based on exchanging goods rather than paying for them- apex :)
What is specialized market?
What is specialized market
What does it mean when tasks in an economy are specialized?
When tasks in an economy are specialized there are a number of things that happen. This will enhance efficiency and there will be increased production level as each department is monitored individually.
What is specialized works?
work specialization is a kind of labor which you are specialized with... ^_^ work specialization is a kind of labor which you are specialized with... ^_^
What is the term for having specialized tasks in an economy?
Division of labor
A country that has a highly specialized economy is most likely to experience which problem?
highly specialized economy will cause downfall more and less. more rights being opposed and less food for the population
What will be a good sentence for the bartering?
my mom once was bartering at stripendales
