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What is Barter system? Explain one of it's important feature?​ ​

Answer»

Answer: Barter system: It is system in which goods can be EXCHANGED against goods and there is no involvement of money. Barter system is old & out dated system and CURRENTLY there is no effective existence of this system.

Features of barter system are as follows:

  • Barter system is DIRECT exchange of goods and services.
  • It leads to the double coincidence of wants.
  • Barter system eliminates the use of money.

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