Which of the following statements best describes a barter system of exchange?
A)It involves the trading of goods directly for other goods.
B)It requires the use of money.
C)It does not involve the double coincidence of wants.
D)It developed late in history.
E)It is the most efficient form of exchange.

Question

Quizplus · Accepted Answer

A barter system of exchange involves the direct trading of goods for other goods without the use of money. For example, a farmer might exchange his wheat for a shoemaker's shoes. This form of exchange was common in early human societies before the invention of currency.

Which of the Following Statements Best Describes a Barter System