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Question
A farmer has 5 kg of rice and he sells it to a merchant. The merchant asks him to deliver the rice to his house, 10 km from the farm. Which of the following is/are exchanged here for money?
A farmer has 5 kg of rice and he sells it to a merchant. The merchant asks him to deliver the rice to his house, 10 km from the farm. Which of the following is/are exchanged here for money?
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Solution
The correct option is D Goods and services
In this case, the farmer delivers the crops to the merchant's house in exchange for a certain sum of money. This involves the exchange of both crops and a delivery service that the farmer does for the merchant. Hence, there is an exchange of goods and services.
In this case, the farmer delivers the crops to the merchant's house in exchange for a certain sum of money. This involves the exchange of both crops and a delivery service that the farmer does for the merchant. Hence, there is an exchange of goods and services.
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