Question

What is barter system?

Answer 1

exchange of one commodity with other like in early times

Answer 2

In barter system, commodities are exchanged against commodities. You don't pay money here. Instead you give something to the seller in order to get what you need. For example: You like someone's watch and you want it. You tell him that you will give him/her a book instead of the watch. You now get the watch and he gets the book. This system is barter system.

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