The Barter System

Define the Barter System

• Barter is an act of trading goods or services between two or more parties without the use of money

• Barter system is the process by which Goods and Services are bought with Gold or Money

• The Barter system is the act of stealing one's Goods and selling it as your own

• The Barter System is the act of auctioning goods and services to the wealthy folks

Select one disadvantage of the Barter System

• Double Coincidence of wants

• Goods are not real

• Unfair Service

• Services are unfair

List one item that was exchanged in the Barter System( General or Broad heading)

Instead of the Barter system, we now use?

Select one advantage of the Barter System

• Barter System is Flexible

• It was fair

• No one was considered as broke

• There was always something to exchange