Quote from: Indai24 on December 12, 2018, 06:29:09 AM

Quote from: Snaic on December 12, 2018, 05:11:45 AM

Quote from: mcqueen95 on February 24, 2018, 03:41:49 PM

Money is one of the important concepts, This section talks about money from the perspective of microeconomics.when people exchange goods and services without using money, this is called barter. "I'll cook dinner if you'll do the dishes" is an example of barter. Imagine an economy in wich i can sell services as a consultant to banks, but what i want is to buy a new suit. the clothing store that sell suits does not have any use for my services as a banking consultant. i sell consulting services for money, and i buy a suit using money. money serves as a medium of exchange. the bank does not sell suits. how can barter work?

The need for barter arises only when, due to various large upheavals in society, the national money of the states depreciates greatly. The presence of paper money is a higher degree of development of financial relations in society compared to barter. Barter symbolizes the backwardness and underdevelopment of the market for goods and services.

For me both are still beneficial but what is more beneficial as of now is money. And you're right barter was from the old times and it's not that applicable for now.

Barter system was not good as there was no standard and in this practical world now, it is almost impossible to implement the barter system. The system has evolved to paper currencies, banks, credit cards and now digital currencies and it is hard to go back to barter system.