Barter refers to the direct exchange of goods or services between parties without the use of money as an intermediary.

• Participants trade items they possess but do not need for those they require, bypassing cash payments.
• As one of the earliest forms of commerce, barter predominated prior to the emergence of currency and continues in scenarios involving individuals, businesses, or nations facing currency shortages or instability.
• It demands a double coincidence of wants, whereby both parties simultaneously desire each other’s goods or services; this requirement renders barter inefficient relative to monetary exchange, yet it retains utility in emergencies or informal markets.