Explain Barter System, with the help of example
Answers
Explanation:
in this system we exchange our goods to each other by not giving them money. this is called barter system.eg:one of the man give wheat and the other person will give him the crop which he or she want,insted of giving money. thank u.
Answer:
Barter is the exchange of products and services for other products and services. In a barter system, people do not use money for transactions. The verb ‘to barter’ means to exchange goods and services for other products and services.
To barter can also mean to try to get a seller to reduce his or her price. In other words, it may mean ‘to haggle‘ or ‘to bargain.’ For example, I may say “She bartered with the street vendor and eventually got the second-hand watch for just $5.” That means she negotiated the price and managed to get a good reduction.
Explanation:
Barter system in Venezuela
Venezuela is in the middle of a disastrous economic crisis. Inflation has exceeded one million percent. People have lost faith in the Bolivar, Venezuela’s currency. Inflation refers to price rises. If inflation is at 1,000,000%, it means one million percent per year.
Consequently, bartering has become popular, and in many cases, the only way to buy things.
In a Reuters article, Andreina Aponte explains that fishermen today are not selling their fish for money. They are swapping snappers, for example, for rice, cooking oil, and bags of flour.
Fish in exchange for medications
Aponte writes about Mileidy Lovera, who wants to trade a cooler of fish for medicine to treat her son’s epilepsy. She will also accept certain foods so that she can feed her four children.
None of the fish sellers in the town of Rio Chico, on Venezuela’s Caribbean Coast, is accepting money.
Aponte writes:
“In the hyperinflationary South American country, where bank notes are as difficult to find as chronically scarce food and medicine, Venezuelans are increasingly relying on to barter for basic transactions.”
“Payment for even the cheapest of goods and services would require unwieldy piles of banknotes, and there simply are not enough of those in circulation.”
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