What is barter trade?

by Doubtly (98.9k points) in Chapter 9 Trade asked Aug 21, 2022 302 views

edited Jun 29, 2023

What is barter trade?

1 Answer

by Doubtly (98.9k points) answered Aug 21, 2022

by Doubtly selected Jun 29, 2023

In ancient and medieval periods, trade was done through barter system. Barter trade means exchange of commodities for commodities without using money, is a medium. For eg. grains in exchange of work done or salt exchanged for oil. But it created the problem of estimating the price of a commodity correctly. As a result, currency started being used.

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