Difference between money and barter system
CBSE, JEE, NEET, CUET
Question Bank, Mock Tests, Exam Papers
NCERT Solutions, Sample Papers, Notes, Videos
Posted by Mohit Saini 7 years ago
- 2 answers
Related Questions
Posted by Kapil Dev Saroye 1 year, 1 month ago
- 0 answers
Posted by Chirag Jindal 1 year, 1 month ago
- 0 answers
Posted by Anisha Grover 4 days, 1 hour ago
- 0 answers
Posted by Sai Sravika Godavarthi 1 week, 2 days ago
- 1 answers
Posted by Sakshi Patel 1 year, 1 month ago
- 1 answers
Posted by Shristi Pandey 3 months, 1 week ago
- 0 answers
Posted by Siddhanth Aravind 10 months ago
- 0 answers
Posted by Armaan Ali 1 year, 1 month ago
- 1 answers
Posted by Vansh Singh 1 year, 1 month ago
- 1 answers
Posted by Sudhanshu Choudhry 1 year, 1 month ago
- 1 answers
myCBSEguide
Trusted by 1 Crore+ Students
Test Generator
Create papers online. It's FREE.
CUET Mock Tests
75,000+ questions to practice only on myCBSEguide app
Yogita Ingle 7 years 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