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“Barter System” means:

“Barter System” means:

  • (A) Exchanging of goods
  • (B) Buying goods
  • (C) Selling goods
  • (D) Producing goods
  • The barter system is an ancient method of commerce where goods or services are directly exchanged for other goods or services, without using money as a medium of exchange, relying instead on direct trade. It's based on mutual agreement, like a farmer trading crops for a carpenter's services, and functions in simple economies or alongside modern money systems for specific needs, though it faces challenges like finding matching needs (double coincidence of wants) and valuing items.
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Related MCQs:

 ‘NATO’ is an abbreviation of:

March 18, 2026 No Comments
  • (A) North Atlantic Treaty Organization
  • (B) Non-Aligned Treaty Organization
  • (C) Non-Aligned Trading Organization
  • (D) North American Transport Organization

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