The direct exchange of one goods for another without the use of money is known as

Assessment: WAEC SSCE - Economics - 2005 (Objective) Subject: Economics

Question 1 Report

The direct exchange of one goods for another without the use of money is known as
Answer Details
The direct exchange of one good or service for another good or service without using money is known as barter. For example, if you trade a dozen eggs for a loaf of bread with your neighbor, that's bartering. Bartering was a common way of exchanging goods and services before the invention of money. It's still used in some parts of the world today, especially in rural areas where cash is scarce or in situations where money is not an option.
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