User:RizwanAhmed554

BATER SYSTEM ≈≥Introduction: When there was no money in the economy the system of trade that was prevailing in the economy i,e the exchange of goods with goods is known as BARTER SYSTEM.

Under barter system there was no medium of exchange. The commodities and goods are traded directly with each other.A person can trade the things which he has got in surplus for things which he is in need of.

However this system was difficult and inconvenient due to which modren world gave up barter and started using money.

≈≥Defination:

Some well known economicts tried to define the term of barter by reading those we are able to define the concept of barter system.

"Barter system is the direct exchange of goods and services without the use of any money"

(Rizwan Ahmed)