Meaning and Limitations of Barter System

Lesson 1 of 8 • 1 upvotes • 12:51mins

Moris Menezes

In this lesson, we are going to learn what Barter System is, how it was used and what were the limitations that led to the end of the Barter System. This topic is one of the initial chapters to our course on "Money and Banking." Before talking about Money, understanding what existed before money is really important. The Meaning and Limitations of the Barter System is a question that can be asked in 2 ways - (1) A 2 mark question asking you to define the Barter System and explain it. (2) A 5 mark short note question for the whole topic Meaning and Limitations of the Barter System. Either ways, this lesson is going to help you through. If you have any doubts, do send it to me and I shall surely get back to you as soon as possible.