Class 12 Accountancy Index Terms Part II, Chapter 3: Money and Banking

Learn CBSE Economics Index Terms for Class 12, Part 2, Chapter 3 Money and Banking

1. Barter Exchange – The meaning of barter exchange in economics is described as a method of exchange, which involves the swapping of goods, services or property for other goods, services or properties.

The term barter exchange or bartering system describes a market medium where transactions of goods, liabilities and related services are conducted through the peer-to-peer exchange of goods or services. It generally meets short-term cash needs by selling and purchasing goods at different locations.

The barter exchange is an online service that simplifies the process of trading goods and services. When one uses barter exchange, they can sell their goods and buy others’ products for an agreed price.

In economics, barter is defined as trade in which one commodity is exchanged for another without using a medium of exchange, such as money or credit. It was the first example of a barter economy, but today it happens mostly among primitive people. Barter exchanges are considered legal, but may happen underground as well. In developed countries, barter may also take place in the form of direct trading or online auctioning (for example, sporting goods).

We hope that the offered Economics Index Terms for Class 12 with respect to Part II, Chapter 3: Money and Banking, will help you.

Related Links:

COMMERCE Related Links
MCQs On Measures Of Central Tendency What Is Promissory Note
Career In Commerce Stream Rectification Of Errors
Democratic And Laissez Faire Leadership Accounting Mcqs Pdf
Accounting For Share Capital Difference Between Marketing And Branding
Incidental Trading Activity Business Studies Class 12 Project