What is the difference between a barter system and a monetary system?
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In the realm of exchanges, a barter system relies on swapping goods or services directly, like trading a basket of apples for a loaf of bread. On the flip side, a monetary system uses money as a middleman, where you use currency to buy goods or services. It's like using cash to get that cup of coffeRead more
In the realm of exchanges, a barter system relies on swapping goods or services directly, like trading a basket of apples for a loaf of bread. On the flip side, a monetary system uses money as a middleman, where you use currency to buy goods or services. It’s like using cash to get that cup of coffee instead of trading your umbrella for it. The key difference? Barter is direct swapping, while money eases the exchange process.
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