6 characteristics of Barter System
1. No Role of Money
In a Barter system, cash doesn’t assume any job and such a system works without cash. In days of yore, when there was no understanding of cash, the deal system was the main choice for exchange. This system got outdated on presentation of cash. But now there’s a new framework for Barter in Business to Business form Global Networking Barter Company which has maintained the old barter system since 1936.
2. Products Exchanged for Goods
In bargain system products were traded against acceptable, remembering in see current cash, we can say that merchandise was utilized as cash.
3. The force of Want and Negotiation
Bargain system depends on the power of need for a decent arrangement between two gatherings for the trade of merchandise. The Bargain system doesn’t bolster the best possible market idea of a free economy.
4. Constrained and Essential Goods Concept
Bargain system just backs the creation of restricted and basic products, which can without much of a stretch be traded with different merchandise. There is no compelling business sector for unimportant or extravagance products.
5. Successful for Limited Population
Trade system is just compelling for a restricted populace, where individuals know the needs of others and create the necessary products by agreeing with requests. Bargain system doesn’t support enormous creation, and individuals would deliver the products which can be traded & Global Networking is providing with the possible Barter Services.
6. Dependability in Economy
Dependability in the economy is one of the significant qualities of the deal system. There is no fake lack and expansion in the bargaining system. In bargain system request and gracefully doesn’t rely upon the costs and along these lines it works in a steady and smooth manner.