Question

Mention the drawbacks of Barter system.​

Answer 1

Explanation:

(i) Lack of double coincidence of wants It was a major drawback of the barter system. ... (ii) Lack of store of value Due to absence of money in barter system, wealth was stored in terms of goods. Storing of goods carried some problems like cost of storage, loss of value, transfer from one place to other

Answer 2

Explanation:

Drawbacks of Barter Systems:

1. Lack of double coincidence of wants.

2. Lack of a common measure of value.

3. Indivisibility of certain goods.

4. Difficulty in making deferred payments.

5. Difficulty in storing value.