Question

Susan hired an attorney to represent her in a court case involving an auto accident. The attorney charged her a $2,000 retainer fee for the services. Terry needed a haircut; the local stylist charged him $12 for his services. Aaron mowed his neighbor’s lawn; in exchange, the neighbor repaired his gutters. The attorney fees, the $12 charged by the hair stylist, and the exchange of lawn mowing for gutter repair are all examples of:

Answer 1

All these are examples of price.

Step-by-step explanation:

The price of a product is the value that a consumer pays to acquire a product or the value that a supplier receives to part away from the product.

The equilibrium price of a product is generally determined through its demand and supply.

Here, the attorney fees, price charged by hairstylist and exchange of lawn mowing for repairing gutters are all examples of the price paid and received in exchange for services.