Give a main limitations of barter system
Answers
Answered by
1
1. Lack of Double Coincidence of Wants:
2. Lack of Common Measure of Value
3. Lack of Standard of Deferred Payment:
4. Lack of Store of Value:
Under barter system, it is difficult for people to store wealth for future use
2. Lack of Common Measure of Value
3. Lack of Standard of Deferred Payment:
4. Lack of Store of Value:
Under barter system, it is difficult for people to store wealth for future use
Answered by
2
The limitations of barter system
########################
Barter system is time consuming
Two people with different types of needs and goods must be there to satisfy each other's need
There are many products which cannot be divided
Valuation of goods is very difficult
########################
Barter system is time consuming
Two people with different types of needs and goods must be there to satisfy each other's need
There are many products which cannot be divided
Valuation of goods is very difficult
Similar questions