Which of the following characteristics is NOT associated with "Barter System"?
Answer & explanation
Correct answer: option 2
The correct answer is Option (2) → It is associated with modern and developed societies.
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The Barter System was the initial form of trade before money was introduced.
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It involved the direct exchange of goods and services without the use of currency.
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Currency was not required in this system.
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However, it is not associated with modern and developed societies; instead, it was practiced in early and traditional societies.