Question

question 1 of 10
what is the voluntary exchange of goods and services?
surplus
trade
taxes
scarcity

Explanation:

To solve this, we analyze each option:

• Surplus: Refers to an excess of a good or resource, not exchange.
• Trade: By definition, is the voluntary exchange of goods and services.
• Taxes: Mandatory payments to the government, not voluntary exchange.
• Scarcity: The limited availability of resources, not exchange.

Answer:

B. Trade