What is bartering model?

The bartering model is an economic system where goods and services are exchanged directly for other goods and services without the use of money. It relies on a mutual agreement between parties on the value of the items being traded. This system can facilitate transactions in communities with limited access to currency, but it can also be inefficient due to the difficulty in finding parties with complementary needs, known as the "double coincidence of wants." Bartering is often seen in informal economies or during times of economic crisis.