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Barter SystemBarter system has been in existence since 6000 BCEarliest forms of barter system had livestock trade (sheep, cattle, vegetables, grains)It was first recorded in EgyptMesopotamia to Phoenicians and the Babylonians improved the systemGoods were exchanged for food, tea, weapons, and spices. Even human skulls were used. Salt was a very important trade commodity that Roman soldiers were paid with it.Middle ages, Europeans traded crafts and fur for silks and perfumes.Musket balls, wheat, and deer skins were used by colonial americansThe invention of money did not kill barter system. But it made it organised.Barter system came back during the great depression of 1930s in a form similar to that of banks.Disadvantages:No certification of proof to show legitimacy of the person you are dealing withIt depends on trustPossible exchange of bad commoditiesNeed a double coincidence of wantsNo common measure of valueStorage issues highAdvantages:No need of moneyFlexibility that anything can be traded.Does not hav