Barter is the direct exchange of goods or services without money, posing challenges in modern economies, leading to the development of money.
Barter is the exchange of goods or services directly without using money as an intermediary. It involves trading goods that people directly value, as seen in informal arrangements like a mechanic repairing a caterer's truck in exchange for food.
In a barter system, exchanges require a double coincidence of wants, making it inefficient for modern economies with diverse job roles.
Early societies used bartering but later developed money as a means of exchange to avoid the limitations of direct exchange.
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