ECONOMICS
MONEY MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which of these is an example of barter?
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Charging $1 for a hamburger
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Mining for gold and silver
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Trading a valuable baseball card for a valuable comic book
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Using money that’s backed by faith in the U.S. government
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Explanation:
Detailed explanation-1: -Markets are an important part of the economy. They allow a space where governments, businesses, and individuals can buy and sell their goods and services.
Detailed explanation-2: -What is one problem that might commonly occur when one is bartering? Someone wants to trade a valuable item for a less valuable one. Two people have different ideas about the value of an item.
Detailed explanation-3: -In what way is a kid’s budget similar to an adult’s budget? The goal for both is to have less money going out than coming in. Both have about the same ratio of income to expenses. Both kids and adults tend to spend their money on the same things.
There is 1 question to complete.