Final answer:
The system where grain is shipped overseas and baked goods are received in return is known as countertrade, a complex arrangement where goods and services are exchanged with little to no use of money. Barter systems are less practical for large-scale transactions and don't allow for future contracts with perishable goods.
Step-by-step explanation:
The type of system described where a large agricultural firm ships grain overseas and receives baked goods in return as a form of payment is known as a countertrade. This is an exchange of goods or services where money rarely changes hands. In contrast to the barter system, which typically involves a direct trade of goods or services without the use of a medium like money, countertrade arrangements can be more complex and can include various forms of trade such as barter, counter purchase, and others.
The issue with a barter system is that it is not practical for large-scale or international trade, as it can be challenging to find parties who have the exact goods or services you need and are willing to trade them for what you have. Additionally, it doesn't easily allow for future contracts, especially if the goods involved are perishable. For instance, if a farmer wants to buy a tractor using a fresh crop of strawberries, this would be impractical due to the crop's perishability.
Money, on the other hand, serves as a medium of exchange and solves these problems by acting as an intermediary in the transaction process, enabling individuals and businesses to conduct trade and enter into contracts with greater efficiency and convenience.