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Home→The Westburn Dictionary of Marketing→B→barter

barter

Definition:
The most basic form of transaction, in which the parties exchange goods and/or services with one another without recourse to a common unit of account or medium of exchange such as money. Although generally associated with primitive economies lacking a medium of exchange, barter deals still continue between economies where currencies are not freely convertible in the world's money markets.

Cross-References:
[exports] [countertrading]

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© Westburn Publishers Ltd 2002, The Westburn Dictionary of Marketing edited by Michael J Baker, ISBN 978-0-946433-01-8. www.themarketingdictionary.com. Entry: [Michael J. Baker], [1998].