Describe two disadvantages of early forms of money, and explain how they could have been fixed.
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Barter system
Under thus system Commodity was exchanged for commodity
drwabacks
No.measure of value
lack of storage
Under thus system Commodity was exchanged for commodity
drwabacks
No.measure of value
lack of storage
Answered by
1
the early forms of exchange was barter trade. Its disadvantages were;
Lack of double coincidence of goods. Exchange was impossible where someone could not have what he wants since the counterpart trader is having a different commodity.
vic
It was difficult to determine the measure of value of good moreso it was difficult to divide other goods into smaller portions for example animals.
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