Question

Two (or more) people may barter or trade such items as baseball cards or oil paintings. This is not considered an exchange because this transaction does not require money.

Group of answer choices

True

False

Answer 1

This  statement is  false

Because in this statement there is  exchange of goods for goods without use of money.It is also called barter system. It is non monetary transaction or exchange where goods are exchange for goods without use of money. This type of system is used in old days when there is no money. People exchange goods for goods. Goods are exchange for food , tea etc

For example = you havebase ball cards and want oil painting and another person have oil painting and he want baseball cards so you both can exchange your goods.

So when goods are exchange for goods without use of money is considered as an Exchange.