The exchange of goods for other goods in home trade is known as?
Answer Details
The exchange of goods for other goods in home trade is known as barter trade. In barter trade, goods are exchanged directly for other goods without the use of money as a medium of exchange. For example, a farmer may exchange his crops with a butcher for meat, without any cash being involved. Barter trade was a common practice in the past before the advent of money, and it is still used today in some situations where money is not available or where it may be difficult to exchange currency due to exchange rate restrictions or other issues. However, in modern times, barter trade has become less common, and home trade is mostly conducted using money as a medium of exchange.