define the word : barter system
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Barter is a system of exchange where goods or services are directly exchanged for other goods or services without using a medium of exchange, such as money
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Barter system is the exchange of goods for goods without the usage of paper money.
>> There were some limitations that, some people gained high profits but some lost
>> One example for this can be ; Arun is a farmer who produced rice. He has 12 bags of rice. Vaishnave, a oil miller offers him 100 bottles of oil. This process of exchanging goods without money or a means of value.
>> There were some limitations that, some people gained high profits but some lost
>> One example for this can be ; Arun is a farmer who produced rice. He has 12 bags of rice. Vaishnave, a oil miller offers him 100 bottles of oil. This process of exchanging goods without money or a means of value.
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