Q:

What are the advantages of the barter system?

A:

According to The Nest, the main advantage of the barter system is its flexibility, which enables the exchange of one product for another. Bartering also helps save money that may have otherwise been used to travel to a shop to buy an item. In some cases, bartering does not entail exchanging or losing the possession of an item. In such cases, service such as maintenance is exchanged for a good.

Bartering refers to a form of transaction in which a person exchanges a product or service for another. A key principle of the barter system is that money is not exchanged between the trading partners. A notable difference between bartering and buying is that in the former method, a partner offers an item he does not need in exchange for a desired item. A clear advantage of this method is saving money. In addition, each party gets the item he wants without spending any money. Although it started in ancient times, bartering is used as a mode of trade even in modern times. For instance, there are many online bartering sites on which people advertise their items and list the items for which they are willing to trade their goods.


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    Who uses the barter system today?

    A:

    Bartering is a popular form of trade for individuals, families and businesses seeking to save money. Some small- and medium-sized businesses join bartering networks to exchange various goods and services. Barter networks help businesses grow by brokering deals to exchange items such as copiers, phone systems, work shirts, carpet cleaning and even real estate.

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    What are some examples of the barter system?

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    Bartering involves exchanging goods or services for other goods and services without involving money. For example, a store owner giving a contractor store credit in exchange for carpentry work is an example of bartering. A baker might bake a cake for his accountant in exchange for services.

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    What are the advantages and disadvantages of the price system?

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    What is money's basic advantage as compared to barter?

    A:

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