What is a barter transaction?

Answer 1

barter is where people exchanged goods for other goods like trading a loaf of bread for some jam.Alot of people on the map use the barter systems and aboriginals used that barter system but could only trade with themselves

Additional comment:

Barter is trading for goods without a fixed price tag. Some places barter with currencies, and some use only goods to trade with. The old trading posts were often barter only, with little currency.

Alternate Answer:

Barter System is that system in which goods are exchanged for goods. In ancient times when money was not invented trade as a whole was on barter system. This was possible only in a simple economy but after the development of economy, direct exchange of goods without the use of money, was not without defects.

Fact:

The Aztecs used the barter system to trade with neighboring cities. Through bartering the Aztecs adopted gods and traditions from the cities.

Answer 2

Barter is the one-on-one exchange of a product or service with another country, vendor or person. This is distinguished as a one-on-one trading system. In organized barter or trading companies, one trades their product or service for trade credits (a form of currency within that specific community) and can then withdraw product or service from the pool of available products and services that the community offers. Often, there are trade brokers that assist in finding what you are wanting, and salespeople that will enroll vendors that offer what you seek.

Trade organizations are preferred over one-on-one bartering, especially if there is a service balance due. E.g., more often than not, those that trade a computer for oil changes may find the oil change facility is out of business before the services are completed and the value of the computer was never received in full. There are a few trade organizations that are public companies; the best known and largest in North America is ITEX.

It is estimated that 75% of the Fortune 500 Companies have divisions that trade in one form or another.

Jacqui Macy

Past Director

Universal Currency Clearinghouse, IRTA

Answer 3

Bartering is the exchange of goods or services for other goods or services, without money. E.g. I will cut your hair if you give me two books.

Answer 4

Barter- the exchange of one good or service for another

Answer 5

Barter or trade is direct exchange of goods or services withouth the use of money or any other intervening medium of exchange.

Answer 6

to buy something by trading. (exchanging of things)

it can also be by means of gold in olden times

Answer 7

Bartering is the act of equal exchange for something else.

Answer 8

Bartering is the act of trading one good or service for another without using money