Describe the journey from Barter system to e-bazaar in ten sentences.
Answers
In earlier civilization Barter system was used where trading with another person was done with goods and services with no money involved.
A type of pre-historic currency developed that involved trading goods like animal skins, salt, weapons etc. which acted as a medium of currency though the unit values were negotiable. This system of barter and trade spread across the globe and it is still followed at some parts of the world.
China was the first country to use recognizable coins. The first minted coins were created in Lydia though.
After coins came paper currency which was first introduced by European governments.
When paper money ran short due to slow travel then, IOUs which acknowledged a debt, were used.
Shift to paper money increased the amount of international trade.
Paper money gave rise to credit cards and debit cards for easy trading and possession of money.
With the advent of internet, people started using online platform for money transfers, payments of all kinds of bills and trading too.
Now, we have moved even forward and trade on the internet with lots of choices available to us both on goods and services, and have the same delivered to us at our doorstep. With lot of completion among different companies and brands in the e-bazaar sector, consumers can reap the benefits!