What is Barter system?
The system of exchange where goods or services are directly exchanged for other goods or services without saying a medium of exchange, such as money is known as the Barter system. This system existed in olden times.
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.
a farmer cultivating wheat would keep a part of wheat sufficient for his family and would exchange the remaining to get rice, clothes, shoes or other items of his need. Similarly the shoe-maker would get clothes and food by exchanging the shoes he made. Teachers used to get food in exchange for knowledge and the artists would be patronized for their entertaining art.
-Barter system is the trading of products and service from the other products ,services.
-Barter trading is simple method of transaction ,in which no money is used.
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