Economy, asked by userarpita23, 2 months ago

explain the shortcomings of barter system? how money has removed this shortcomings

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Answered by persiashree

1

Money overcomes the shortcomings of barter system in the following manner: i. Money solves the problem of double coincidence of wants. For example, if a person needs wheat in exchange of tea, then he/she must search for a person who is ready to trade wheat for tea. Money made the need for such searches redundant.

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