Q.What is meant by Barter System?

Commerce covers both trade (direct buying and selling) and the aids to trade (banking, insurance, transport, warehousing, advertising) that remove the hindrances of person, place, time, risk, and finance. It evolved from a barter economy — direct exchange of goods, limited by the need for a 'double coincidence of wants' and the lack of a common measure of value — to a money economy, in which coins, currency, and later ban …