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people only have so many possesion they could trade. If I give you...a cow and the only thing you have that I want is...a hat say, then how can you give me change? you cant give me things I dont want and need so....credit is born, and money!
Wiki User
∙ 15y ago
Wiki User
∙ 14y agoThe biggest weakness of a barter system is there must be an exchange rate for each and every good traded. e.g.: in an economy with only three goods, ducks, chickens and potatoes, you must readily know all of the following rates to conduct business. 1 duck=2 chickens, 1 chicken=3 potatoes, 1 duck=6 potatoes, 1 potato=1/3 chicken or 1/6 duck.... etc. If more good are added the list goes on and on.
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How do you use silent barter in a sentence?
Our class reenacted a silent barter scene.
Who invented barter system?
barter system was invented by Cris Dolan in 1880s in England.
What involves the direct exchange of goods and services without the use of money as a. Medium of exchange?
Barter system
Does th choctaw people have a money or barter system?
they had a barter system. they didn't have money, just trade goods,
Goods and services are exchanged without the use of money in which system?
Barter
What are the difficultes of barter system?
what is the difficultes of barter system in world economy
Native Americans relied on a barter system. This was a system in which?
Native Americans relied on a barter system. This was a system in which
How do you use silent barter in a sentence?
Our class reenacted a silent barter scene.
Who invented barter system?
barter system was invented by Cris Dolan in 1880s in England.
What involves the direct exchange of goods and services without the use of money as a. Medium of exchange?
Barter system
What is the significant of barter?
In barter economy, commodities were exchanged in the market. It was before the evolution of currency system that barter economy existed. Even today, in remote rural areas of India, the barter system still exists.
Does th choctaw people have a money or barter system?
they had a barter system. they didn't have money, just trade goods,
Goods and services are exchanged without the use of money in which system?
Barter
What is it when people traded goods?
A trade, an exchange, or barter. An economic system which operates without money is called a barter system.
What system does a barter system operate without?
money
Do countries still use barter system?
No. Barter System was one of the ancient ways of exchange of goods and services. Nowadays cash and currency has replaced the barter system. People usually pay for goods and services in money.
When did the barter system end?
1898
