what is a barter system
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Barter system is the system in which a thing is given to have another thing. For example Ram wants shoes instead of a Coat but Sham wants a coat instead of a pair of shoes therefore they will exchange each others commodities.
dharun1:
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Hi there!
Barter system :
Before the invention of money, people met in a market place to barter or exchanged goods and services. A cow could be barted for 10 sacks of wheat, or 10 pots for a bale of cotton. This system came to be known as the barter system.
Hope it helps!
Barter system :
Before the invention of money, people met in a market place to barter or exchanged goods and services. A cow could be barted for 10 sacks of wheat, or 10 pots for a bale of cotton. This system came to be known as the barter system.
Hope it helps!
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