The exchange of goods and services directly without money is called:

Question

Quizplus · Accepted Answer

Barter refers to the exchange of goods and services directly without money. This usually involves the direct exchange of goods or services between individuals or businesses without the use of a medium of exchange like money. The double coincidence of wants, on the other hand, is a necessary condition for barter to take place where two parties have to agree to give and receive goods or services that the other party wants without the use of money. Arbitration refers to the settlement of disputes between parties by an impartial third party, while currency trade involves the exchange of one currency for another in the foreign exchange market. Illegal trade or black market refers to the exchange of goods or services that are illegal or prohibited by law.

The Exchange of Goods and Services Directly Without Money Is