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: -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-3: -Since the beginning of known history, humans have directly exchanged goods and services with one another in a trading system called bartering. The history of bartering dates back to 6000 BC. Introduced by Mesopotamia tribes, bartering was adopted by the Phoenicians.

Detailed explanation-4: -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.

Detailed explanation-5: -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