SETTLING NORTH AMERICA 1497 1732
THE SETTLEMENT OF JAMESTOWN COLONY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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To trade or exchange without the use of currency.
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To lend a friend currency or goods.
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To buy a good or service now and pay for it later.
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To collect a good or service.
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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 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: -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: -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: -In trade, barter (derived from baretor) is a system of exchange in which participants in a transaction directly exchange goods or services for other goods or services without using a medium of exchange, such as money.