In international trade the direct exchange of goods for goods is?

Assessment: WAEC SSCE - Commerce - 2002 (Objective) Subject: Commerce

Question 1 Report

In international trade the direct exchange of goods for goods is?
Answer Details
The direct exchange of goods for goods in international trade is known as counter trade. In this type of trade, the buyer and seller agree to exchange goods or services instead of using traditional currency for payment. It is often used between countries with different currencies or where currency exchange is restricted. Counter trade can take different forms such as bartering, offset trade, and buyback. It is a way to overcome trade barriers, build relationships between trading partners, and minimize risks in international trade.
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