Advertisements
Advertisements
Question
What is the meaning of 'barter system'?
Advertisements
Solution
Barter system is the system that was used for exchange of one commodity for another. Barter system was practised before money came into existence.
APPEARS IN
RELATED QUESTIONS
Why is modern currency accepted as a medium of exchange without any use of its own? Find out the reason.
How do money and muscle power play an important role in elections? Explain.
How can money easily exchange it for goods or services? Give example to explain.
Describe the vital and positive role of credit with examples.
Why one cannot refuse a payment made in rupees in India?
Which one of the following is the appropriate meaning of collateral?
Explain with examples how people are involved with the banks.
In situations with high risks, credit might create further problems for the borrower. Explain.
Explain the meaning of 'Currency'.
How does the use of money make it easier to exchange things? Give an example.
