HISTORY
MEDIEVAL CHRISTIAN EUROPE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Money system
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Barter system
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Either A or B
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None of the above
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Detailed explanation-1: -A barter economy is a cashless economic system in which services and goods are traded at negotiated rates. Barter-based economies are one of the earliest, predating monetary systems and even recorded history.
Detailed explanation-2: -On December 1, 2015, Reserve Bank of India (RBI) officially put an end to the barter system of trading along the Indo-Myanmar border. Further readings: Indian Economy Notes for UPSC Civil Service Exam. Monetary Policy – Objectives, Role, Instruments.
Detailed explanation-3: -Bartering is the process of trading services or goods between two parties without using money in the transaction.
Detailed explanation-4: -Since the beginning of known history, humans have directly exchanged goods and services with one another in a trading system called bartering.