Definitions
- Referring to a barter or exchange of goods or services without the use of money. - Talking about a deal or negotiation that involves exchanging one thing for another. - Describing a transaction that is informal, unregulated, or outside of official channels.
- Referring to a business deal or exchange of goods or services for money. - Talking about a financial operation such as a deposit, withdrawal, or transfer. - Describing an official or regulated exchange of goods, services, or money.
List of Similarities
- 1Both involve an exchange of goods or services.
- 2Both can be used in a business or financial context.
- 3Both require some form of negotiation or agreement between parties.
- 4Both can be initiated by individuals or organizations.
- 5Both can have legal implications.
What is the difference?
- 1Nature: Troke involves a non-monetary exchange while transaction involves a monetary exchange.
- 2Formality: Transaction is more formal and official than troke.
- 3Regulation: Transaction is typically regulated by laws and policies while troke is often informal and unregulated.
- 4Scope: Transaction can involve large sums of money or complex operations while troke is usually smaller in scale and simpler in nature.
- 5Purpose: Transaction is often for business or financial purposes while troke can be for personal or social purposes.
Remember this!
Troke and transaction both involve an exchange of goods or services, but the difference lies in the nature of the exchange. Troke refers to a non-monetary exchange, often informal and unregulated, while transaction refers to a monetary exchange, often formal and regulated by laws and policies. Transaction is typically used in a business or financial context, while troke can be used for personal or social purposes.
