Which of the following characteristics is NOT associated with "Barter System"?

It is associated with modern and developed societies.

The correct answer is Option (2) → It is associated with modern and developed societies.

• The Barter System was the initial form of trade before money was introduced.

• It involved the direct exchange of goods and services without the use of currency.

• Currency was not required in this system.

• However, it is not associated with modern and developed societies; instead, it was practiced in early and traditional societies.