Sean decided he no longer needs his smartphone, but would really like a small camera. Sarah, on the other hand, has a small camera she is not using and desperately needs a smartphone. The agree to trade each other their unwanted goods for those that they want and need. Sean and Sarah's situation is an example of A) law of supply. B) law of demand. C) equilibrium price. D) voluntary exchange.

Question

Jayden Oliver

Business

13 November, 17:06

Sean decided he no longer needs his smartphone, but would really like a small camera. Sarah, on the other hand, has a small camera she is not using and desperately needs a smartphone. The agree to trade each other their unwanted goods for those that they want and need. Sean and Sarah's situation is an example of A) law of supply. B) law of demand. C) equilibrium price. D) voluntary exchange.

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Answers (2)

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Curtis Miles · Answer 1

Voluntary Exchange

Explanation:

This is a voluntary exchange, since the two have a clear need and by mutual agreement without setting a price, carry out an exchange of products, do not generate more consumption, or demand a new product, in the same way they are not generating a market or participating On it.

Easton Warren · Answer 2

D) voluntary exchange

Explanation:

Sean decided he no longer needs his smartphone, but would really like a small camera. Sarah, on the other hand, has a small camera she is not using and desperately needs a smartphone. The agree to trade each other their unwanted goods for those that they want and need. Sean and Sarah's situation is an example of voluntary exchange.