Question

How does money fulfill the short comings of Barter system?​

Answer 1

Direct exchange of goods against direct without use of money is called barter system.Alternatively economic changes with out the medium of money are reffered to as barter exchange..

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Answer 2

hey!

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• °•☆your answer:-°•☆

1. Money occupies a unique position in a modern capitalist economy. It is the lifeline of a modern economy.

• Money occupies a unique position in a modern capitalist economy. It is the lifeline of a modern economy.Money fulfils the short comings of the Barter system in the following ways

Money occupies a unique position in a modern capitalist economy. It is the lifeline of a modern economy.Money fulfils the short comings of the Barter system in the following ways

(i) Eliminates Double Coincidence of wants:-

• The buyer exchanges goods for money and the seller exchanges goods for money. It facilitates exchanges of goods and services and helps in carrying on trade smoothly.

• The buyer exchanges goods for money and the seller exchanges goods for money. It facilitates exchanges of goods and services and helps in carrying on trade smoothly.

• (ii) Unit of Measure:-

• Money acts as a unit of measure for both the buyer and seller. It results in fair transaction where payment for goods is made equal to its price.

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