Question
Distinguish between Barter trade and Monetary trade.
Solution
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Barter trade |
Monetary trade |
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1. It is the earliest form of local trade. 2. Barter system means the exchange of goods without the use of money. 3. It is limited in nature and has the difficulty of rate of exchange of goods. |
1. It is modern system of international trade. 2. Monetary system means the exchange of goods where one item is exchanged for the other. 3. It is used for trade of a number of commodities from different countries. |
