Question

Is barter system is applicable in modern scenario

Answer 1

People exchanged services and goods for other services and goods in return. Today, bartering has made a comeback using techniques that are more sophisticated to aid in trading; for instance, the Internet. In ancient times, this system involved people in the same area, however today bartering is global. .

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Answer 2

In the modern scenario, bartering has relevance in terms of usage of the digital world connected through the internet.

Explanation:  

• The Barter system is an exchange of goods and services based on the double coincidence of wants.
• The same scenario is observed on the internet where through social media or digital platforms, people are exchanging services and goods.
• Earlier the scope was limited. Now, the barter system is covering the entire globe and is beneficial to people.

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