Barter

Barter is a simple form of trade where goods or services are exchanged for a
certain amount of other goods or services, i.e. there is no money involved
in the transaction. Barter trade was common in societies where no monetary
system existed or in economies with a very unstable currency or a lack of funds.

The disadvantage of using barter is that it depends on the mutual
coincidence of needs. Before any transaction will be undertaken, the needs
of one person must mirror the needs of another person. If you have an
surplus of goats and need more wheat, you must find someone that has a
surplus of wheat and needs more goats. To overcome this mutual coincidence
problem, intermediaries developed that would store, trade, and warehouse
commodities.

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