Barter
Direct reciprocal exchange of goods or services without the use of money
Barter
In trade, barter (derived from bareter) is a system of exchange in which participants in a transaction directly exchange goods or services for other goods or services without using a medium of exchange, such as money. Barter is considered one of the earliest systems of economic exchange, used before the invention of money. Economists usually distinguish barter from gift economies in many ways; barter, for example, features immediate reciprocal exchange, not one delayed in time. Barter usually takes place on a bilateral basis, but may be multilateral (if it is mediated through a trade exchange). In most developed countries, barter usually exists parallel to monetary systems only to a very limited extent. Market actors use barter as a replacement for money as the method of exchange in times of monetary crisis, such as when currency becomes unstable (such as hyperinflation or a deflationary spiral) or simply unavailable for conducting commerce. No ethnographic studies have shown that any present...
Read on Wikipedia · Image F.S. Church, published in Harper's Weekly, January 17, 1874, p. 61., Public domain
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