ECONOMICS
ECONOMIC SYSTEMS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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through prices and wages
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through government regulation
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through bartering
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through shortages and surpluses
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Detailed explanation-1: -Bartering is based on a simple concept: Two individuals negotiate to determine the relative value of their goods and services and offer them to one another in an even exchange.
Detailed explanation-2: -Barter is an alternative method of trading where goods and services are exchanged directly for one another without using money as an intermediary. It is an old method of exchange. People exchanged services and goods for other services and goods in return.
Detailed explanation-3: -What is Barter System? When the goods and services of equal value are exchanged between two or more parties without using any form of monetary exchange, this transaction is called the Barter System.
Detailed explanation-4: -In times of monetary crisis or collapse, a barter system is often established as a means to continue the trading of goods and services and to keep a country functioning. This may occur if physical money is simply not available, or if a country sees hyperinflation or a deflationary spiral.
Detailed explanation-5: -Decide what you need. Identify a suitable trading partner or network. Make contact with a person to begin your trade. Negotiate the details of the trade, including location, what you’re trading, and even where you’ll meet, being certain that both parties are happy with the result. More items