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What is the word for a country or community where there are no currency but they only trade stuff?
Wiki User
∙ 14y ago
Barter system
Wiki User
∙ 14y ago
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Trade one country's currency for another country's currency?
command
Why is exchanging currency necessary for international trade?
Manly because there is not always a balance of trade. When there is not a balance of trade someone must be paid. They would like to exchange the money that they receive for the money that is used in their own country. That is why exchanging currency is necessary.Answer 2Because if you are in country A selling to someone in country B, you want to be paid in your own currency. Country B's currency is useless to you, you cannot pay your suppliers or your employees in it.But, the buyer in country B only has country B's currency in his bank account.So one of you has to exchange country B's currency into country A's currency, then you are both happy.
What currency is used in international trade?
When the United States buys goods from another country, it will usually pay for those goods in the currency of the exporting country.
What is import trade?
import trade is when a country sells goods and services to other countries and they are paid in foreign currency
When a country lacks hard currency it must use what to complete international trade?
When hard currency is not available for a country to use it can barter product s and goods for other products and goods. Bartering accounts for about a quarter of international trade.
Trade one country's currency for another country's currency?
command
What is the money system for European trade?
Internal trade is done in the currency of the country in question. International trade is done in the currency of one of the two countries involved. If a company in country A buys something from a company B, they agree to either use the currency of country A or that of country B. This is often the Euro, as this is the main currency used by the majority of countries in Europe.
Why is exchanging currency necessary for international trade?
Manly because there is not always a balance of trade. When there is not a balance of trade someone must be paid. They would like to exchange the money that they receive for the money that is used in their own country. That is why exchanging currency is necessary.Answer 2Because if you are in country A selling to someone in country B, you want to be paid in your own currency. Country B's currency is useless to you, you cannot pay your suppliers or your employees in it.But, the buyer in country B only has country B's currency in his bank account.So one of you has to exchange country B's currency into country A's currency, then you are both happy.
Where can i trade money from a nother country in at?
Update currency status for countries and trade by Forex brokers.
What currency was used in slave trade?
Whatever currency used by the country purchasing the slaves was typically use in slave trade. Hope it helped! Ari
What countries does China trade products with?
any country that has the stuff they want to trade for
What currency is used in international trade?
When the United States buys goods from another country, it will usually pay for those goods in the currency of the exporting country.
What is import trade?
import trade is when a country sells goods and services to other countries and they are paid in foreign currency
When a country lacks hard currency it must use what to complete international trade?
When hard currency is not available for a country to use it can barter product s and goods for other products and goods. Bartering accounts for about a quarter of international trade.
The value of a country's currency is likely to decline as a result of?
Higher Inflation.
How does devaluation and the trade balance related?
Due to devaluation the balance of trade of a country improves in the long run. Balance of trade refers to import and export of merchandise goods of a country. Devaluation means decresing the external face value of domestic currency at international market compare with other countries currency.
Why people trade with each other?
The reason people trade is because they get new stuff that people don't have in their country.
