You contact Samuel and ask him if he will come clean out your drain line and in exchange you will make him a delicious roast beef dinner. He agrees to the exchange. What type of system have you used in this transaction?

Question

Business

Kelton

20 August, 06:52

You contact Samuel and ask him if he will come clean out your drain line and in exchange you will make him a delicious roast beef dinner. He agrees to the exchange. What type of system have you used in this transaction?

+3

Answers (1)

Know the Answer?

Dominick Kennedy · Answer 1

The correct answer is: The barter system.

Explanation:

Bartering is the eldest transaction system known to men. It consists of exchanging a good or service without any monetary payment. The goods and services traded have almost the same value to the parties involved so they considered them fair enough to go ahead with the transaction. The introduction of money set bartering behind giving a standard value to goods and services.