Questions: Andrew and Timmy are neighbors. Andrew owns a boat but never uses it. Timmy owns a car that he no longer needs since his son left for college in another state. Andrew needs a car. Andrew and Timmy make an agreement to trade the boat for car. What is the economic term given to this kind of exchange? a. Barter. b. Replevin. c. Buying and selling. d. Bargained-for exchange.

The answer is a. Barter.

Barter is the direct exchange of goods or services without using money. In this case, Andrew and Timmy are trading a boat for a car directly, which fits the definition of barter.

Replevin is a legal term referring to a procedure to recover goods that have been wrongfully taken or retained. This does not apply to the scenario described.

Buying and selling involve the exchange of goods or services for money. Since no money is involved in Andrew and Timmy's exchange, this option is not applicable.

A bargained-for exchange is a broader term that can include barter but also encompasses any negotiated agreement where each party provides something of value. While this term could technically apply, the more specific and accurate term for this direct trade of goods is "barter."