The Barter System

 

The Barter System

AADIAug 13 2021

Ok let's say your friend has the best thing in the world, and you really want it but if you be like "Yo, can you give that cool thing please?" their reply would be "NO!". "No" unless you had something they like, you give him your precious thing and you get what you wanted, this is the barter system. When we directly exchange goods or services for goods or services, it is called barter. But the catch is, you don't use any specific currency. This is nowadays rarely used. It was used in the olden times. I am not saying this is better than money, but I wanted to write something about History so that's why we are here.

So what are some disadvantages of the Barter System? a) There needs to be a coincidence. - Both the peoples' needs should be fulfilled. b) Storage and Space. - The needs may range from a peanut to a log of wood c) Fixed Value. - There wasn't a fixed value, a piece of gold could sell for wool and also silver

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