Barter

Before money was invented people exchanged whatever they had.

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Barter is a system of exchange where participants in a transaction directly exchange goods or services for other goods or services without using money.

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Read the text available on p. 51 and asnwer the following question. Who can the initiative of barter markets reach?

• No one

• Some people

• A few people

• Few people

• Many people.

Read the text available on p. 51 and asnwer the following question. What do people trade?

• Something they don't want anymore with something else they need.

• Things they like so much and don't want to give away.

• Things they saw in their neighbour's house and now they want.

What was the main disadvantage of the barter system?

• It was too simple

• It required exact item matches for trade

• It was too fast

• It used too much money

What is the primary challenge of the barter system?

• It requires a double coincidence of wants

• It is too modern

• It uses currency

• It is too fast

Which of the following is a synonym for 'barter'?

• Exchange

• Purchase

• Sell

• Borrow

In a barter system, what is typically exchanged?

• Goods and services

• Currency

• Digital assets

• Stocks

What is a key advantage of the barter system?

• No need for money

• Requires a bank

• Involves interest rates

• Needs a credit score

Which sentence uses 'barter' correctly?

• They decided to barter their old books for new ones.

• She bartered the money in the bank.

• He bartered his way through the exam.

• They bartered the car for a higher price.