Goods are exchanged for goods is called

see full answer

High-Paying Jobs That Even AI Can’t Replace — Through JEE/NEET

🎯 Hear from the experts why preparing for JEE/NEET today sets you up for future-proof, high-income careers tomorrow.

An Intiative by Sri Chaitanya

Exchange

Barter system

Money

Economy

answer is B.

(Unlock A.I Detailed Solution for FREE)

Best Courses for You

JEE

NEET

Foundation JEE

Foundation NEET

CBSE

Detailed Solution

Goods are exchanged for goods is called the barter system. A barter system, where items are directly exchanged without money. In other words, both parties must consent before they can buy and sell each other's goods. The phrase "double coincidence of wants" describes this. People traded one good for another to fulfil their needs under this arrangement. This procedure was referred to as a commodity for the exchange of commodities. Barter exchanges are not possible in a big economy. The barter system makes it impossible to pass on one's wealth. In a barter system, a person might wind up spending very high costs in the quest for a person to exchange their surplus.

Watch 3-min video & get full concept clarity

Result Producing online coaching for JEE/NEET of south India

Largest All India Test Series for JEE/NEET

Best Online Course for IIT JEE

Best Online Course for NEET

Best Online Course for CBSE

Ready to Test Your Skills?

Check your Performance Today with our Free Mock Test used by Toppers!

Take Free Test

Get Expert Academic Guidance – Connect with a Counselor Today!

Result Producing online coaching for JEE/NEET of south India

Largest All India Test Series for JEE/NEET

Best Online Course for IIT JEE

Best Online Course for NEET

Best Online Course for CBSE