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 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: -The exchange of goods in return for other goods or services is called Barter System.

Detailed explanation-4: -Direct Barter – two or more parties directly trading items or services. Managed Barter or Retail Barter –conducted between small businesses via a locally organized Trade Exchange. More items