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 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: -Bartering is the exchange of goods or services. A barter exchange is an organization whose members contract with each other (or with the barter exchange) to exchange property or services.

Detailed explanation-4: -The exchange of goods in return for other goods or services is called Barter System.

Detailed explanation-5: -Trade is the action of buying and selling goods and services. Barter, on the other hand, is the exchange (goods or services) for other goods or services without using money.