what is barter system?
Answers
Answered by
1
hey mate here is ur ans
____________________________________
In trade, barter is a system of exchange where participants in a transaction directly exchange goods or services for other goods or services without using a medium of exchange, such as money.
____________________________________
In trade, barter is a system of exchange where participants in a transaction directly exchange goods or services for other goods or services without using a medium of exchange, such as money.
Answered by
1
★Answer:-
→Barter system is the trading of items b/w(between) people.
•But sometimes, this creates contradiction known as Double coincidence.
•Eg--> Person(1) requires 5kg wheat and is ready to give clothes and Person(2) requires Tools and is ready to give 5kg Wheat, this makes it difficult to trade as person(1) could get what he want but person(2) couldnt get what he want so he cancels the trading.
★To finish this Problem, Money was introduced.
Similar questions