money
money
money
Barter system
Barter
The exchange of one good for another without the use of money is called Barter.
money
money
A trade, an exchange, or barter. An economic system which operates without money is called a barter system.
The barter system
Barter system
economic world today is just like a barter system.
Barter
The exchange of one good for another without the use of money is called Barter.
The use of money increases economic efficiency because without it, we would be a barter system. In a barter system, if I want potatoes, and have oranges to trade, the person with the potatoes has to want oranges to be willing to trade with me. With the use of money, I can give him a known amount of value in money, which he can buy what he wants to with.
barter.
exchange of goods for other goods.
no