ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -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-2: -Barter/Trade. The direct trading (barter) or any exchange (trade) of goods and services between people without the use of money. Benefits to Trade. The net benefits to entities such as countries from open voluntary trading with each other.

Detailed explanation-3: -barter, the direct exchange of goods or services-without an intervening medium of exchange or money-either according to established rates of exchange or by bargaining. It is considered the oldest form of commerce.

Detailed explanation-4: -Bartering is a cashless exchange system, where two parties trade goods or services directly, without money entering the conversation. It might bring to mind medieval marketplaces, but bartering still occurs a lot in the modern business world – typically in the shape of trading space, services or supplies.

Detailed explanation-5: -A barter system is known as an old method of exchange. This system has been practised for centuries and long before money was introduced. People started exchanging services and goods for other services and goods in return.