Meaning of Barter System.

1.	Meaning of Barter System.
Answer» Meaning of Barter System: Barter system is a system of exchanging goods or services for other goods or services without using a medium of exchange, such as money. For example, a farmer cultivating wheat would exchange wheat to get rice or clothes, teachers used to get food in exchange for knowledge. Limitations of Barter System: Issue of mutual adjustment of wants Difficulty in storing value Problem of measuring value and Lack of common standard of measurement of value.

Answer»

Meaning of Barter System:

Barter system is a system of exchanging goods or services for other goods or services without using a medium of exchange, such as money. For example, a farmer cultivating wheat would exchange wheat to get rice or clothes, teachers used to get food in exchange for knowledge.

Limitations of Barter System:

Issue of mutual adjustment of wants
Difficulty in storing value
Problem of measuring value and
Lack of common standard of measurement of value.

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Meaning of Barter System.

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