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Bartering means to trade something for something else.  Both people are satisfied after the trade is concluded.
Interdependence means that all people need each other.  People who make items for sale need people to buy them.  People with money to purchase things need producers to make them.  We all depend on each other.
Specialization means that certain functions or jobs are performed by specific individuals.  All of us cannot be a doctor but all of us at some time in our lives will need the services of a medical doctor.  We need for individuals to specialize in medicine so that our needs can be met.

Bartering refers to the exchange of goods and services when both parties are satisfied with the exchange.  Money becomes part of the exchange when we use it to pay for the service or good because we have nothing wanted by the other trader.  Money is a form of payment to make it easier for use to exchange goods and services.


This page last updated on 06/25/00.

Dr. Cynthia Sparks is the Supervisor of Social Studies for Chesapeake Public Schools.  She is also an Adjunct Faculty member for the University of Virginia, Troy State University, and Old Dominion University.