A barter economy is a system where goods and services are exchanged without the use of money. In such a system, individuals need to possess goods that others desire or need to secure goods for themselves. There are several synonyms for this type of economic exchange wherein goods and services are traded instead of using currency. These synonyms include a trade-based economy, a counter-trading economy, a swapping economy, a non-monetary economy, and a mercantile economy. These systems were common in ancient civilizations and have been used at various times throughout history when access to currency was limited or nonexistent. In modern times, barter economies are often used in local communities and small businesses.