Question

...heya.......guys...


define barter system and write its drawbacks.....


.... answer me ...​

Answer 1

Answer:

Barter system was the system in which things were exchanged for things.

Eg:- A bag of rice for a bag of cotton.

Drawbacks of Barter system:-

1. This was only possible when there was double coincidence of wants among the people.and this rarely happened..

eg. There are 3 people A,B and C.

A has cotton, B has jute and C has rice.

Here A need jute but B doesnt need cotton, he wants rice, whereas C may need cotton but A doesnt need rice A needs jute.This double coincidence of wants was major problem.

2.Lack of common measure of values.

3. Indivisibility of certain goods.

4. Difficulty in making differed payments.

hope u understand my explanation and where an example is needed to explain a point it is clearly given.

Any doubts regarding this..comment below...❤☺

Answer 2

Answer:

lack of double coincidence of wants

lack of value

lack of storage