BARTER

Barter

Barter is a system of exchange by which goods or services are directly exchanged for other goods or services without using a medium of exchange, such as money. It is distinguishable from gift economies in that the reciprocal exchange is immediate and not delayed in time. It is usually bilateral, but may be multilateral and usually exists parallel to monetary systems in most developed countries, though to a very limited extent. Barter usually replaces money as the method of exchange in times of monetary crisis, such as when the currency may be either unstable or simply unavailable for conducting commerce.

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barter

Noun

  1. an equal exchange
    We had no money so we had to live by barter.

Verb

  1. exchange goods or services without involving money


The above text is a snippet from Wiktionary: barter
and as such is available under the Creative Commons Attribution/Share-Alike License.

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