Question

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What is Barter System?


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Answer 1

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.

Hope it helps you........

Answer 2

Answer:

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A barter system is an old method of exchange. Th is system has been used for centuries and long before money was invented. People exchanged services and goods for other services and goods in return. ... The value of bartering items can be negotiated with the other party.