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exchange, mutual transfer of goods, money, services, or their equivalents; also the marketplace where such transfer occurs, such as a stock exchange or a commodity exchange (see commodity market). In early human society, exchange of unessential articles, such as jewelry, was common, but no group could afford to rely on another group for the necessities of life. Gradually, division of labor led to the barter economy, in which articles were produced for exchange. Modern capitalistic society, although an outgrowth of the exchange economy, is no longer based on exchange. Strict exchange depends on barter; in modern society the money and price system—in which goods and services are produced in exchange for specified amounts of a standard currency—has largely replaced barter, except for limited arrangements done on a local basis (such as within a town or village). Broadly, the term is now used to signify exchange of goods and services for money. The price of the various factors in exchange is determined by their supply and market demand. Conversion of one country's currency into that of another by means of still others is called arbitrage or arbitration of exchange. The term exchange also refers to the amount of money necessary to buy a given amount in a foreign country, usually for the foreign exchange of goods and services.
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The following article is from The Great Soviet Encyclopedia (1979). It might be outdated or ideologically biased.



in civil law, one of the forms of contract whereby the parties exchange property for other property. After the barter contract is executed, each of the parties loses the right of ownership to the property transferred and acquires that right to the property received. The similarity between the barter contract, which involves the compensated transfer of ownership of property, and the contract of sale and purchase means that many of the rules relating to the contract of sale and purchase can be applied to the barter contract (a procedure established in Soviet legislation).

Barter originated as a primitive form of commodity exchange but was supplanted by sale and purchase and has generally become insignificant. Under Soviet law the barter contract usually is concluded between citizens, but it may also be made between cooperative and other public organizations. A barter contract involving state organizations may be concluded in cases specifically envisioned by the laws of the USSR and the Union republics.

The Great Soviet Encyclopedia, 3rd Edition (1970-1979). © 2010 The Gale Group, Inc. All rights reserved.


trade by the exchange of goods
Collins Discovery Encyclopedia, 1st edition © HarperCollins Publishers 2005
References in periodicals archive ?
Barter trading here usually involves the trade of household items like foodstuff and textiles but could stand to be expanded as business and demand grows.
He said the government has allowed barter trade on the island as it has been a traditional mode of trading goods between the islanders and their neighbors in Malaysia and Indonesia, for instance.
The guidelines will be imposed among traders participating in the cross-border trading between Mindanao, Malaysia, and Indonesia in coordination with the existing barter trade offices.
During his visit to Bangkok, Thailand last month, Duterte asked Malaysian Prime Minister Mahathir Mohamad to speed up the discussions on the barter trade system between the Philippines and Malaysia since his government is implementing the Bangsamoro Organic Law aimed at ending decades-long conflict in Mindanao.
During that time, territorial boundaries were not as explicit as they are today and commerce between these areas were vibrant with Zamboanga City, Sulu and Tawi-Tawi as recognised barter trading areas.
He said among the items to be allowed under the Mindanao barter system are rice, corn, canned goods and other consumer goods.
'The revival of barter in Mindanao will not only create jobs and business opportunities, but will also strengthen trade and commerce between and among member-states of the BIMP-EAGA (Brunei Darussalam-Indonesia-Malaysia-Philippines - East ASEAN Growth Area),' the order read.
Barter then made a plan to meet the officer and take the child to a rural area where the latter would be "sexually assaulted, killed and then cannibalized," ( NBC News  reported.
However, if there is no aACAywish listaACAO, one can offer a barter of their own.
Typically, it's the same thing anytime I mention the barter system nowadays.
President Rodrigo Duterte on Monday downplayed the act of the Chinese Coast Guard taking the catch of Filipino fishermen in Scarborough Shoal, saying it was 'barter' and 'not an outright seizure.'