ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -"Trade” is the name we give to any exchange of one thing for something else. Trading can take place between people, companies, and countries. Trade involves services, money, and goods.

Detailed explanation-2: -Barter is an act of trading goods or services between two or more parties without the use of money-or a monetary medium, such as a credit card. In essence, bartering involves the provision of one good or service by one party in return for another good or service from another party.

Detailed explanation-3: -conversion. act of exchanging one type of money or security for another. barter, swap, swop, trade.

Detailed explanation-4: -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-5: -Barter is an exchange without assigning value to goods/services exchanged. Whereas exchange is barter after determining values to goods/services bartered.