Kayla is part of a group of parents that have a carpool arrangement to get their kids to and from debate team practices and matches. Kayla picks up all of the kids and takes them home one week in exchange for another parent doing it the following week. This is an example of what kind of arrangement that is an element of a traditional economy?
Responses
scarcity
bartering
elastic
laboring
bartering
The arrangement described, where Kayla picks up the kids one week in exchange for another parent doing it the following week, is an example of a bartering arrangement.
The arrangement described in the question, where parents take turns picking up and dropping off kids for debate team activities, can be categorized as "bartering" in terms of economic arrangements.
Bartering is the exchange of goods or services without the use of money. In this case, the parents are exchanging their time and effort in providing transportation services for their children. This kind of arrangement is a common element of traditional economies, where people rely on direct exchanges and personal relationships rather than using a centralized market or currency.
To arrive at this conclusion, we first needed to understand what is meant by "bartering" and then analyze the situation presented in the question to determine if it fits the description.