Question

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What is Barter System?


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Answer 1

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The system of exchanging goods and services without exchange of money is known as Barter System.

Answer 2

The barter system is a system of exchange of goods or services directly with goods and services.

Under this system agricultural produce, cattle etc was used as a medium of exchange.

During this system the lifestyle of people was very simple and they were mostly dependent on agriculture, but as the lifestyle of people progressed the barter system became a difficult medium of exchange and this led to the origin of Money.