Question

Describe pros and cons of Barter system?

Answer 1

Explanation:

Pros of bartering include:

▪️Building a strong network of working relationships.Mastering the creativity it takes to find, pitch, and close a barter.

▪️No need for a large amount of cash on hand (possible exception: taxes due, consult your accountant).

▪️Leveraging your unneeded property or simply using your skills and knowledge.

▪️Growing business skills for use in freelance, at work, and any other situation where you may need to create and negotiate deals.

▪️Often the simplest approach when you and another party can mutually solve each other’s needs with a trade-off.

Cons of bartering include:

▪️You’re limited to your ability to find the right person/company to barter with.

▪️Tax implications are less straightforward and could create complications with high-value barters.

▪️Physical barters require being in person or trusting the other person to ship their product.

▪️Fewer safeguards in place because bartering has no standard method for implementation.

Hopes it help you♥️♥️

Answer 2

The pros and cons of Barter system

Explanation:

A barter system is a traditional exchange system of goods and items of trade.

• The advantages of barter include: Building a strong network of working relationships.

• No need for a large amount of cash on hand. Growing business skills to negotiate deals.

• Simplest approach when you and another party can mutually benefit.

• Disadvantages of the barter system:

• Limited ability to find the right person Tax implications with high-value barters.

• Low physical security.

Learn more about the pros and cons of Barter system.

• brainly.in/question/18858428 answered by therashmikamandanna.