The tremendous technological advancements have changed how certain activities are carried out. This is because it has changed the amount of time and energy that would have otherwise be wasted on performing a certain task. The transformation has enabled the carrying out of activities to become much more efficient as well as effective. An example of such technological changes is the use of a barter and trade online system that has made the accessibility of goods to become much easier.
The internet gives a huge variety of options for any party involved. If it is in the case of the much needed market of products, then it is easy to find an interested party within a short period of time. As opposed to the traditional means used where locating the market for a given product would be a cumbersome activity to do.
This is because no monetary system is required as goods on this particular platform are swapped with other goods completing the transaction in place. There are no major formalities involved in the transaction procedure. The only issue that can arise is the value a certain product might have in the market.
This double coincidence of wants was a huge limitation at that time since there is no medium of exchange required in this type of transaction. Communication was also a challenge at that time therefore people interested in certain products would not link up and do as required. People would also not know if there was a person interested in a certain product.
It is much easier to use this form of transaction since there are numerous people all over the world. The use of the internet can be able to link people together from different geographical locations. Also, the accessibility of products becomes much easier for the different amount people who may be interested on specific products.
For this reason, before one agrees to any deals they should ensure the authenticity of a person with whom they are conducting their deal with. The site should also be legitimate and that is why one should request for the proper documents from the owner of the given website. In order to prove that they are a legitimate establishment.
The ability of people to conduct their activities by the click of a button just shows how effective the application of technology can get. The use of this system also enables people from different backgrounds to interact together solidifying the amount of trust between the parties. Having a strong trust relationship in this type of business transaction can act as an asset during the negotiation process.
Since no monetary system is used in this platform, the ability of the involved parties to trust each other is key to the success of the operation. Therefore for this reason, websites offer an interacting platform where people from different places can get together and talk on numerous matters of interest affecting them. This creates a bond between some of them which will later be used while conducting business.
The internet gives a huge variety of options for any party involved. If it is in the case of the much needed market of products, then it is easy to find an interested party within a short period of time. As opposed to the traditional means used where locating the market for a given product would be a cumbersome activity to do.
This is because no monetary system is required as goods on this particular platform are swapped with other goods completing the transaction in place. There are no major formalities involved in the transaction procedure. The only issue that can arise is the value a certain product might have in the market.
This double coincidence of wants was a huge limitation at that time since there is no medium of exchange required in this type of transaction. Communication was also a challenge at that time therefore people interested in certain products would not link up and do as required. People would also not know if there was a person interested in a certain product.
It is much easier to use this form of transaction since there are numerous people all over the world. The use of the internet can be able to link people together from different geographical locations. Also, the accessibility of products becomes much easier for the different amount people who may be interested on specific products.
For this reason, before one agrees to any deals they should ensure the authenticity of a person with whom they are conducting their deal with. The site should also be legitimate and that is why one should request for the proper documents from the owner of the given website. In order to prove that they are a legitimate establishment.
The ability of people to conduct their activities by the click of a button just shows how effective the application of technology can get. The use of this system also enables people from different backgrounds to interact together solidifying the amount of trust between the parties. Having a strong trust relationship in this type of business transaction can act as an asset during the negotiation process.
Since no monetary system is used in this platform, the ability of the involved parties to trust each other is key to the success of the operation. Therefore for this reason, websites offer an interacting platform where people from different places can get together and talk on numerous matters of interest affecting them. This creates a bond between some of them which will later be used while conducting business.
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