Write two ways in which barter system is still followed today.
Answers
Answered by
0
Explanation:
Barter system goods can be exchanged against good and there is no involvement of money in such system. Barter system is old & out dated system and currently there is no effective existence of this system.
Features of barter system are as follow:
Barter system is direct exchange of goods and services.
It requires the double coincidence of wants.
Barter system eliminates the use of money.
It generally flourishes among uncivilized and backward communities.
Barter system is possible where the area of exchange is limited.
It is possible only if the wants of members of a community are very limited.
Similar questions