Joshua and Ryzard buy the same pair of flip flops, but each in the wrong size. Joshua proposes a size swap with Ryzard. This is an example of
A)barter, since the flip flops in the correct size represent a medium of exchange.
B)barter, since the flip flops in the correct size have intrinsic value to both Joshua and Ryzard.
C)money, since the flip flops in the correct size do not have any intrinsic value.
D)money, since the flip flops in the correct size represent a medium of exchange.

Question

Quizplus · Accepted Answer

Barter involves trading goods or services directly without the use of money. In this case, Joshua and Ryzard are exchanging flip flops directly to get the correct sizes, which have intrinsic value to them because they fit. This makes it a barter transaction, not a monetary one.

Joshua and Ryzard Buy the Same Pair of Flip Flops