Market exchange is characterized by:

Question

a) The barter of goods and services at a market.

b) The use of an exchange medium such as US dollars.

c) The exchange of goods and services for other goods or services.

d) The exchange of goods, resources , or services to create a social relationship.

Answer 1

Market exchange is defined as an economic system in which goods and services are produced, distributed, and exchanged by the forces of price, supply, and demand. Example of Market Exchange Farmers take their crops to a local market and sells them to the public.