Q:
What are some examples of the barter system?
A:
Quick Answer
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.
Continue Reading
Credit:
Blend Images - Erik Isakson
Brand X Pictures
Getty Images
Full Answer
People may also barter or trade goods for other goods. For example, someone with a motorcycle might trade the motorcycle for a car without cash exchanging hands. Although it has been used throughout history, bartering is gaining renewed acceptance as there are numerous bartering websites that help people connect and trade.
Learn more about EconomicsSources:
Related Questions
-
Q:
When is total utility maximized?
A: Total utility is maximized when consumers find a combination of goods and services that provides the most use and satisfaction for the money spent. The pur... Full Answer >Filed Under: -
Q:
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... Full Answer >Filed Under: -
Q:
What are functions of an economic system?
A: Basic functions of an economic system are to produce and consume goods and services. The way in which people within the economy do this varies based on the... Full Answer >Filed Under: -
Q:
What are characteristics of a traditional economy?
A: A traditional economy is an economic system where customs, traditions and beliefs determine the goods and services created by the society. It is dependent ... Full Answer >Filed Under:
You May Also Like
-
Q:
What are some examples of three-wheeled vehicles?
-
Q:
What are examples of Social Darwinism?
-
Q:
What are some examples of an implied main idea?
-
Q:
What are some examples of free online dating sites?
-
Q:
What are some examples of a hostile work environment?
-
Q:
What are some examples of categorical grants?
