Business Studies, asked by peterkacheampong, 5 months ago

explain absence of common measure ofvalue

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Answered by Anonymous

Answer:

Lack of common measure of value:

In barter, there is no common measure (unit) of value. Even if buyer and seller of each other commodity happen to meet, the problem arises in what proportion the two goods are to be exchanged. ... Money obviates these difficulties and acts as a convenient unit of value and account.

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