Question

Explain lack of division of good's demerit of barter system.

Answer 1

Answer:

The following points highlight the six major disadvantages of the barter system. The disadvantages are:

1. Lack of Double Coincidence of Wants

2. Lack of a Common Measure of Value

3. Indivisibility of Certain Goods

4. Difficulty in Storing Value

5. Difficulty in Making Deferred Payments

6. Lack of Specialization.

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