Which of the following is an example of a barter system?

see full answer

Start JEE / NEET / Foundation preparation at rupees 99/day !!

21% of IItians & 23% of AIIMS delhi doctors are from Sri Chaitanya institute !!

An Intiative by Sri Chaitanya

Borrow 10,000 rupees from money lender

A bag of rice in exchange for a bag of pulses

A bag of rice in exchange for 600 rupees

None of the above

answer is B.

(Unlock A.I Detailed Solution for FREE)

Ready to Test Your Skills?

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

Take Free Test

Detailed Solution

An example of a barter system is getting a bag of rice in exchange for a pack of pulses. In a "barter," two or more parties trade goods or services without exchanging money or other payment. Bartering involves exchanging one party's good or service for another party's. The basic tenet of bartering is that two parties engage in a discussion to determine the relative value of their goods and services before making an equal deal. Before the actual hard currency was invented, the world's earliest means of commerce existed.

Watch 3-min video & get full concept clarity

hear from our champions

Result Producing online coaching for JEE/NEET of south India

Largest All India Test Series for JEE/NEET

Best Books for IIT JEE

Best Books for NEET

🔥 Start Your JEE/NEET Prep at Just ₹1999 / month - Limited Offer! Check Now!

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 Books for IIT JEE

Best Books for NEET