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JAMB Economics 1978 Question 39

Question 39

Money and Inflation

By 'trade by barter', we mean

  1. A.trade done by people in villages
  2. B.exchange of goods for money
  3. C.international trade
  4. D.exchange of goods for goods
  5. E.the trade of the Middle Ages.
Show the answer and explanation

Answer: D (exchange of goods for goods)

Explanation

Barter is direct exchange of goods for goods without using money.