Advantages of Barter Trade
Some resources you have in abundance other resources are scarce. If for example an individual needs lumber to. What Are Advantage And Disadvantage Of Barter System Edurev Class 10 Question If you go through the evolution of human history early humans had very little needs. . In economics a medium of exchange is any item that is widely acceptable in exchange for goods and services. Here is a brief overview about the history of this trading system which has its own advantages and disadvantages. The first and foremost advantage of the barter system is that its the simplest system of trade which involves no complications so if you are a wheat seller and you want rice and rice seller wants wheat then both rice and wheat seller will exchange their products without any hassles of the modern-day monetary exchange system. To this end barter exchange of goods for other goods and cross currency swap between D-8 countries can be a way