Arnav went to a restaurant and ordered a pizza. He looked at the price of the pizza and calculated how much money he had. He was relieved to find that he had enough money to pay for the pizza. He enjoyed the pizza, paid for it, and left as a happy and satisfied customer.

What do you call this exchange of money?

Economic transaction

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Fair trade

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Barter system

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Commerical swap

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Solution

The correct option is A Economic transaction
We pay for any product or service with money. This is called an economic transaction. Economic transactions are essential for a country. They decide the country’s production of various goods and their annual income. This, in turn, is used to decide the extent of the country’s development.

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