May 2024
Intermediate to advanced
688 pages
51h 31m
English
Content preview from Business Environment, 1st Edition by Pearson
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Chapter 40: Money: Functions and Value | 511 |
cash and partly in kind. The National Income Committee of India
has estimated that out of the total transactions in India in 1954, about
one-third were in terms of barter. (Often, an American purchases a
new car by offering his old car and the balance amount in cash.)
At present, barter is used extensively in the sphere of international
trade. The bilateral trade agreements entered upon by two countries
are mostly on the barter system of transaction. For instance, India
exports marine products to USA and gets machinery in exchange;
sometimes, there are attempts on the part of several countries ...
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