Question

Explain the drawbacks of Barter System.

Answer 1

Answer:

The major drawbacks of the barter system were: ... (iv) Lack of store of value Due to absence of money in barter system, wealth was stored in terms of goods. Storing of goods carried some problems like cost of storage, loss of value, transfer from one place to other, etc.

Answer 2

Answer:

1. lack of double coincidence

2. lack of a common measure of value

3. Indivisibility of certwin goods

4. Difficulty in making defered payments

5. Difficulty in storing value

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