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Q: What is Trade bartering and forms of money in traditional south African societies?
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Continue Learning about Economics

What is exchange of goods and services?

trade or bartering


What is the term for trade that is based on the exchange of goods rather than for money?

This is known as bartering.


What is the exchange of goods without using money?

This is called the barter system.


How could a society without money work?

Societies without money function mainly on a bartering (trading) system. As in, I'll trade you ten bushels of corn for a goat, etc. History shows us that may work INTERNALLY for a long time, but cannot work well between societies. An agreed on money always emerges.


What is barter and what is trade?

Trading is different from bartering when it involves money, trading does not include money while bartering does. The reason is that trading with money would be buying while bartering would be adding both goods/services and money to buy something.For instance: You have $50 and some lightly used engine parts you would like to trade for a new $90 bicycle. That would be bartering.But if you paid $90 for it that would be a purchase.While if you gave them $90 worth of parts it would be trade.