Question

An American company sold construction equipment to the government of Singapore. Instead of receiving payment in U.S. dollars, the company agreed to take payment in the form of goods. This is an example of

Answer 1

The scenario that's illustrated by the American company is known as countertrade.

What is countertrade?

It should be noted that countertrade simply means a reciprocal form of international trade.

In this case, the goods and services are exchanged for another goods. This is illustrated by the company in this case.

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