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?
O scarcity
O bartering
O elastic
O laboring
The correct answer is bartering. In this carpool arrangement, the parents are exchanging their services (driving the kids to and from debate team practices) without using money. This type of exchange is known as bartering, which is an element of a traditional economy where goods and services are traded directly without the use of currency.
The arrangement described, where Kayla picks up all the kids one week and another parent does it the following week, is an example of bartering, which is an element of a traditional economy.
In a traditional economy, goods and services are exchanged directly between individuals or groups without the use of money. This barter system involves the direct trade of goods or services for other goods or services. In this case, Kayla is providing the service of transportation for the other parents' children and, in return, is receiving the same service the following week.
Bartering is a common practice in traditional economies because it allows individuals to acquire what they need or want by exchanging items or services they have an excess of. It is a way to overcome the scarcity of resources by utilizing the skills and resources available within the community.
So, in summary, the arrangement described in the question, where parents take turns providing transportation for each other's children, represents a bartering arrangement within a traditional economy.