Payment in kind refers to receiving goods or services instead of money as a form of payment for work. For example, a farmer might work on someone’s land and, instead of being paid in cash, receive a portion of the crops grown. This type of payment was common in earlier times when money was not always available. It is still used in some places today, especially in rural areas. Payment in kind helps both the person providing the work and the one receiving the service when cash is not easily accessible.
This question related to Chapter 13 Social Science Class 6th NCERT.
From the Chapter 13. The Value of Work.
Give answer according to your understanding.
Payment in kind refers to non-cash compensation, such as goods exchanged for work.
Explanation: This method values goods as currency, common in rural or informal economies.
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