ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Bartering is the exchange of goods and services between two or more parties without the use of money. It is the oldest form of commerce. Individuals and companies barter goods and services between each other based on equivalent estimates of prices and goods.

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: -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: -Related subjects: Business. A market is a social arrangement that allows buyers and sellers to discover information and carry out a voluntary exchange of goods or services. It is one of the two key institutions that organize trade, along with the right to own property.

Detailed explanation-5: -The above statement is true as barter system is a system of exchange where goods or services are directly exchanged for other goods or services without using a medium of exchange such as money.