Explain the Barter System below and give an example of how this worked.
The Bartering system is when you have a currency, and decide how much it’s worth. E.g a farmer has too much chicken eggs and wants to sell them. A woodchopper needs money, so they come together and decide how much it’s worth, and exchange the wood and eggs. If the farmer’s chickens die, he will charge more wood. Unfortunately, the farmer has an advantage, because if there is a forest fire, he will/can not charge more wood, because he is the one asking. This is basically trading in advance
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