Check sibling questions
Chapter 6 Class 6 History - Early Kingdoms

Why is the use of money better than barter in trade?



Answer to be written in the exam:

The use of money is better than barter because 

  • it makes transactions easier and more efficien t. In a barter system, people have to exchange goods or services directly, which can be difficult if they do not have what the other person wants. 

  • Money, on the other hand, is a universally accepted medium of exchange that can be used to buy any goods or services. 

  • This makes transactions faster and more convenient. 

  • Money also allows people to save and accumulate wealth , which is not possible in a barter system

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Davneet Singh

Davneet Singh has done his B.Tech from Indian Institute of Technology, Kanpur. He has been teaching from the past 13 years. He provides courses for Maths, Science, Social Science, Physics, Chemistry, Computer Science at Teachoo.