Question

Introduction of ________ removed difficulties of barter. (metals / bank / money / shares), Fill in the blank with appropriate alternative given in the bracket.

Answer 1

$\large{\mathfrak{Answer -}}$

Money is the correct answer.

Introduction of $\textbf{\underline{money}}$ removed difficulties of barter.

Answer 2

Introduction of Money removed difficulties of Barter.

Explanation:

• The issues with the barter system were many which included a common measure of values, double co-incidence and the lack of a standard method of payment.
• When money came into the picture, it eliminated all the need for an exchange of goods to take place.
• It became a well-recognised medium of currency and there wasn’t a particular need for goods to be present on both sides for an exchange to take place.
• The presence of money eliminated the need for finding a commodity which matched the value of the commodity being bartered. It became an effective and efficient means of exchange.

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