The trade of things of value between buyer and seller so that each is better off after the trade is referred to as __________.
A)exchange
B)acquisition
C)consumerism
D)utility
E)reciprocity

Question

Quizplus · Accepted Answer

The term "exchange" refers specifically to the process of trading something of value between a buyer and seller, with the goal of both parties benefiting. "Acquisition" refers more broadly to obtaining something, while "consumerism" refers to a cultural and social movement focused on the consumption of goods and services. "Utility" refers to the usefulness or satisfaction that a product or service provides, and "reciprocity" refers to the principle of exchanging things with others for mutual benefit.

The Trade of Things of Value Between Buyer and Seller