Question

What is the most essential features of barter system

Answer 1

most essential feature of the barter system is that we exchange goods without using money

Answer 2

Explanation:

The main feature of barter system was to direct involvement of seller and buyer. When there is a transaction for another item or service in exchange for one item or service then it is called bartering. In this method, the public (universal) unit of exchange i.e., money (rupee-money) is not used.

The limitations of barter system are as follows:

1. Two people with different types of needs and items should fulfill each other's needs.
2. There are several products that cannot be divided.
3. Pricing of goods is very difficult.
4. Time consumption.