Question

differentiate between money and barter system

Answer 1

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

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Answer 2

Answer:

BARTER ECONOMY:

One of the oldest economies, 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 necessity

this is a drawback for this type of economy

MONEY ECONOMY:

In the current system where the notes or coins are preferred for trading purposes, there is no need for the coincidence of wants here

hope it helps!

Explanation: