Multiple choice general knowledge

The act of obtaining a desired object from someone by offering something in return is called as a (n)....

  1. Transaction

  2. Exchange

  3. Relationship

  4. Value
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Exchange is the act of obtaining a desired object by offering something in return - it's the core concept underlying all market transactions. A transaction is the recorded event, but exchange is the fundamental act. Relationships and value are outcomes or dimensions of exchange, not the act itself.

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