What is Barter system?Why metals were used as money?
Answers
Answer:
Bartar system is like a exchanging system of commodities ... because metals replace money...
Answer:
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.
Money, in and of itself, has no actual value; it can be a shell, a metal coin, or a piece of paper. Its value is symbolic; it conveys the importance that people place on it. Money derives its value by virtue of its functions: as a medium of exchange, a unit of measurement, and a storehouse for wealth.
Money allows people to trade goods and services indirectly, it helps communicate the price of goods (prices written in dollar and cents correspond to a numerical amount in your possession, i.e. in your pocket, purse, or wallet), and it provides individuals with a way to store their wealth in the long-term.