Which of the following statements best describes a barter system of exchange?
A)It involves the trading of goods directly for other goods.
B)It requires the use of money.
C)It eliminates the transactions costs involved in exchange.
D)It developed late in history.
E)It is the most efficient form of exchange.

Question

Quizplus · Accepted Answer

A barter system of exchange involves the direct trading of goods for other goods without the use of money. It is an exchange system without the need for currency, making it different from the modern exchange economy.

Which of the Following Statements Best Describes a Barter System