Explain two problems of barter system in detail.
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Answer:
Explanation:
The problems are:
Double Coincidence of Wants
Lack of a Standard Unit of Account
Impossibility of Subdivision of Goods
Lack of Information
Production of Large and Very Costly Goods not Feasible
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Explanation:
the problem of barter system are
1.their will be a problem of double coincidence of want.
2.in it goods are exchanged without the use of money
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