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asked 11 months ago
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Trade by Barter is Exchange of Goods and Services with other Goods and Service which was acceptable to both parties i.e., seller and buyer. There was no involvement of money in barter trade. Both the parties decided what they desire and in what quantity they can exchange the goods or services from each other. For Example: A dozen apples could be exchanged for Clothes etc. Here no money was involved. For Barter, It was necessary that both parties find something of worth from other to exchange.
Also visit following Blurtit questions:
What is meant by barter system?
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Also visit following Blurtit questions:
What is meant by barter system?
Explain Say’s law in barter economy?
What's The Weakness Of Barter System In Economic?
Can you explain the term of barter system?
How money has removed the difficulties of barter system?
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