Barter
Barter is a method of exchanging goods or services without using money as a medium of exchange. In a barter system, individuals trade items they have for items they need, without the need for cash transactions.
For example, if a baker needs a new pair of shoes, they can exchange a certain number of loaves of bread with a shoemaker in return for a pair of shoes. This type of exchange is known as bartering.
Bartering has been used for centuries as a way to conduct trade before the invention of money. It allows individuals to obtain goods and services they need without having to rely on money as a medium of exchange.
While bartering can be an effective way to conduct trade, it does have its limitations. It can be difficult to find someone who has the exact item you need and is willing to trade for what you have. Additionally, the value of goods and services in a barter system can be subjective, making it challenging to determine a fair exchange rate.
Overall, bartering is a useful tool for individuals looking to obtain goods and services without using money. It can promote community building and create a sense of trust and cooperation among individuals.
References:
Wikipedia – Barter