ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Barter is an act of trading goods or services between two or more parties without the use of money-or a monetary medium, such as a credit card. In essence, bartering involves the provision of one good or service by one party in return for another good or service from another party.

Detailed explanation-2: -Barter is a system of exchange where participants in a transaction directly exchange goods or services for other goods or services without using money.

Detailed explanation-3: -Exchanging goods for goods is called the Barter System.

Detailed explanation-4: -Trade refers to the voluntary exchange of goods or services between economic actors. Since transactions are consensual, trade is generally considered to benefit both parties.

Detailed explanation-5: -Barter is an alternative method of trading where goods and services are exchanged directly for one another without using money as an intermediary. For instance, a farmer may exchange a bushel of wheat for a pair of shoes from a shoemaker.