Voluntary Exchange: Definition, Principle, Model & Examples

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

The free economic exchanges that occur in a market are _____.

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1. Which of the following is the best example of a voluntary exchange?

2. From which economic school of thought is voluntary exchange derived?

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About This Quiz & Worksheet

The emphasis of this quiz and worksheet will be on broad topics like free economic exchange and its origin, the voluntary exchange model, and the best example of voluntary exchange.

Quiz & Worksheet Goals

On this quiz/worksheet, you'll be asked about:

  • Free economic exchange in a market
  • An example of voluntary exchange
  • Where voluntary exchange comes from
  • What does not happen in a market economy
  • A characteristic of the voluntary exchange model

Skills Practiced

  • Information recall - access the knowledge you've gained regarding what would not be prevalent in a market economy
  • Knowledge application - use your knowledge to answer a question about a feature of voluntary exchange
  • Reading comprehension - ensure that you draw the most important information from the related voluntary exchange lesson

Additional Learning

In the lesson, Voluntary Exchange: Definition, Principle, Model & Examples, we will delve further into voluntary exchange. The lesson is going to cover:

  • Principles of voluntary exchange
  • The role of the market economy
  • A real life example of voluntary exchange
  • Assumptions of voluntary exchange
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