Question

in one paragraph discuss whether you believe or not if barter is necessary in modern society

Answer 1

I dont think that barter system is necessary in modern society bcz there is unlimited wants and limited resources.There is lack of double coincidense.

Answer 2

Let me help in handling this.

I personally do not believe that barter trade is a necessary form of exchange to our economy because of the various limitations it faces. Some of the limitations are discussed below.

There is lack of double coincidence of commodities. in barter trade it is very hard to find someone in need of the product he may want and at the same time you are in need at the product he posses at the same time.

Lack of standard measure of value in barter trade it is difficult to estimate the value of a commodity against another commodity.