differentiate between barter economy and money economy.
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barter was exchange of good
it was a unpleasant way as the value of the good will be different
money economy is very comfortable
it was a unpleasant way as the value of the good will be different
money economy is very comfortable
Answered by
28
BARTER ECONOMY:
One of the oldest economy, this system is used when coins and note currency was barely present in this system people exchanged goods for goods if a person has something in excess he exchanges with the person who needs it and takes what he wants from him
this is not always possible as there must be the coincidence of neccesity
this is a draw back for this type of economy
MONEY ECONOMY:
The current system where the notes or coins are prefered for trading purposes there is no need for coincidence of wants here
hope it helps!
doubts?comment below
courtesy :fire furry
One of the oldest economy, this system is used when coins and note currency was barely present in this system people exchanged goods for goods if a person has something in excess he exchanges with the person who needs it and takes what he wants from him
this is not always possible as there must be the coincidence of neccesity
this is a draw back for this type of economy
MONEY ECONOMY:
The current system where the notes or coins are prefered for trading purposes there is no need for coincidence of wants here
hope it helps!
doubts?comment below
courtesy :fire furry
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