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The system arose in a period where paper currency was an innovation. ... which is different from a traditional, retail oriented barter exchange. Corporate barter ...
A traditional economy is a loosely defined term sometimes used for older economic systems in economics and anthropology. It may imply that an economy is not deeply connected to wider regional trade networks; that many or most members engage in subsistence agriculture, possibly being a subsistence economy; that barter is used to a greater frequency than in developed economies; that there is ...
Economists refer to a system or network that allows trade as a market. Traders generally negotiate through a medium of credit or exchange, such as money. Though some economists characterize barter (i.e. trading things without the use of money [1]) as an early form of trade, money was invented before written history began. Consequently, any ...
A moneyless economy or nonmonetary economy is a system for allocation of goods and services without payment of money. The simplest example is the family household. Other examples include barter economies, gift economies and primitive communism. Even in a monetary economy, there are a significant number of nonmonetary transactions.
Under this system, problems arise through the improbability of the wants, needs, or events that cause or motivate a transaction occurring at the same time and the same place. One example is the bar musician who is "paid" with liquor or food, items which his landlord will not accept as rent payment, when the musician would rather have a month's ...
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This page was last edited on 20 March 2008, at 14:48 (UTC).; Text is available under the Creative Commons Attribution-ShareAlike 4.0 License; additional terms may ...
Microeconomics (from Greek prefix mikro- meaning "small" and economics) is a branch of economics that studies the behavior of individuals and small impacting organizations in making decisions on the allocation of limited resources (see scarcity).