what is barter system
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Goods are exchanged without the use of money . In barter system double coincidence of wants is an essential feature
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Barter is a system of exchange in which participants in a transaction directly exchange goods or services for other goods or services without using a medium of exchange, such as money
Explanation:
In barter system there is a double coincidence of wants
for example,
A farmer may exchange a bushel of wheat for a pair of shoes from a shoemaker but, it only happens when both thr farmer and the shoemaker is in need of shoe and wheat respectively
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