Commerce WAEC

Exchange of goods in the international market which does not involve the use of money is a?

A. barter trade
B. entreport trade
C. counter trade
D. bilateral trade

Correct Answer: Option D

D. bilateral trade

Explanation

Bilateral trade or clearing trade is trade exclusively between two states, particularly, barter trade based on bilateral deals between governments, and without using hard currency for payment. Bilateral trades are agreements between two countries in order to facilitate trade and economic stability between their respective countries. Bilateral trade agreements often aim to keep trade deficits at a minimum by keeping a clearing account where deficit would accumulate.

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