Question

Which is the best definition of voluntary exchange?

banks voluntarily provide a reasonable exchange rate for foreign currencies

the government provides laborers with money in exchange for their hard work

citizens choose to trade goods or services for something else of value

citizens voluntarily give up rights to the government for protection

Answer 1

Voluntary exchange is defined as the act of buyers and sellers engaging in market transactions freely and willingly making both parties gain something thru the exchange.

Banks voluntarily providing its clients a reasonable exchange rate for foreign currencies is the best definition.