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The parties of the barter transaction are both equal and free. Neither party has advantages over the other, and both are free to leave the trade at any point in time. The transaction happens simultaneously. The goods are normally traded at the same point in time. Nonetheless delayed barter in goods may rarely occur as well. [12]
When the exchange is immediate, as in barter, it does not create a social relationship. When the exchange is delayed, it creates both a relationship as well as an obligation for a return (i.e. debt). Hence, some forms of reciprocity can establish hierarchy if the debt is not repaid. The failure to make a return may end a relationship between ...
Silent trade, also called silent barter, dumb barter ("dumb" here used in its old meaning of "mute"), or depot trade, is a method by which traders who cannot speak each other's language can trade without talking. Group A would leave trade goods in a prominent position and signal, by gong, fire, or drum for example, that they had left goods.
Also called resource cost advantage. The ability of a party (whether an individual, firm, or country) to produce a greater quantity of a good, product, or service than competitors using the same amount of resources. absorption The total demand for all final marketed goods and services by all economic agents resident in an economy, regardless of the origin of the goods and services themselves ...
NEW YORK (AP) — Campbell's (CPB) is ditching the soup — at least in name. And the change has now received shareholders' greenlight. Campbell Soup Co. announced its intention to change its name ...
MIAMI (AP) — Jimmy Butler scored a season-high 30 points in his return from a sprained ankle, Tyler Herro added 18 and the Miami Heat erased an early 19-point deficit to beat the Philadelphia ...
Raven-Symoné is opening up about what it was like to get breast reduction surgery at age 15. During the Dec. 5 episode of her Tea Time with Raven & Miranda podcast — which Symoné, 38, co-hosts ...
"Mutual credit" (sometimes called "multilateral barter" or "credit clearing") is a term mostly used in the field of complementary currencies to describe a common, usually small-scale, endogenous money system. The term implies that creditors and debtors are the same people lending to each other, but there are several nuances.