Question
What does the term ‘Barter System’ refer to?Â
Solution
The barter system is one of the earliest forms of trade, where goods or services are directly exchanged for other goods or services without using money as a medium. For instance, a farmer might exchange a certain quantity of grain for cloth or tools from a craftsman.
More Economics Questions
- _____________ launched the e-Sawaari India Electric Bus Coalition, in partnership with Convergence Energy Service Limited (CESL) and World Resources Instit...
- Which of the following is not a money market instrument?Â
- Consider the following statements about government securities and derivatives: (I) Government Securities are risk-free gilt-edged instruments. (II) Deriv...
- Which of the following was the first microfinance institution in India, established in 1974?
- The theory which states that exchange rates between currencies are in equilibrium when their purchasing power is the same in each of the two countries, isÂ
- Geological Survey of India (GSI) has approved the setting up of a geopark in ____________, the country’s first.
- A minimum wage is defined as:Â
- What does the economic term 'Inflation' refer to?**
- Which organization regulates mutual funds and stock markets in India?Â
- What is the essence of 'barter' in economic transactions?
Relevant for Exams:
