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Difference between money and barter system

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Difference between money and barter system

Posted by Mohit Saini 6 years, 8 months ago

CBSE > Class 10 > Social Science

2 answers

Yogita Ingle 6 years, 8 months ago

Barter system:
* In a barter sysem, people give goods in exchange of goods.
* In a barter system, the parties have to agree to exchange each other goods.
*In a barter system, exchange cannot take place if the parties do not agree to buy each others goods.
*Therefore, double coincidence of wants is a must in a barter system.
Money system:
* In an economy that uses money, things are exchanged , using money as a medium.
* A man who is in possession of money can easily exchange it for anything that he wants.
*People prefer to receive payments in money and then exchange it for aything that they may want.
* The use of money as a medium of exchange the need for double coincidence of wants.

2Thank You

Ved Singh 6 years, 8 months ago

I dont know

0Thank You

ANSWER

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Posted by Maahi Jain 1 month, 1 week ago

CBSE > Class 10 > Social Science

0 answers

Don't post personal information, mobile numbers and other details.
Don't use this platform for chatting, social networking and making friends. This platform is meant only for asking subject specific and study related questions.
Be nice and polite and avoid rude and abusive language. Avoid inappropriate language and attention, vulgar terms and anything sexually suggestive. Avoid harassment and bullying.
Ask specific question which are clear and concise.

Remember the goal of this website is to share knowledge and learn from each other. Ask questions and help others by answering questions.

Posted by Maahi Jain 1 month ago

CBSE > Class 10 > Social Science