Bartering is a form of trade. In the olden days, they didn’t have money so they use to barter. In order for bartering to work, two people have to agree on the things1 they're trading with. Say for example Mary is a farmer that produces milk and Damian is a mechanic. If Mary wants her bike fixed Damian has said that she has to give him 1 litre of milk in exchange. Sometimes there is something called the double coincidence of wants. Say mary has a friend called jack and he owns an orchard Damian says he wants some fruits in exchange from mary that means mary would have to trade with jack for the fruits then gives the fruits to Damian.
No comments:
Post a Comment