ECONOMICS
MONEY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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barter system
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trade system
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credit system
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I owe you system
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Detailed explanation-1: -Countertrade is a reciprocal form of international trade in which goods or services are exchanged for other goods or services rather than for hard currency.
Detailed explanation-2: -Uses of Bartering 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-3: -In the barter system, people exchange goods directly without the use of money.
Detailed explanation-4: -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.
Detailed explanation-5: -Some of the examples of barter exchange are as follows: The worker working in the field of farmers gets wheat in return. In villages generally grains are exchanged with pulses. Shoes are exchanges for cloth.