Question

MULTIPLE CHOICE QUESTIONS
1. What is the defect of barter system?
(A) Lack of double coincidence of wants
(C) Difficulty in store of value​

Answer 1

Difficulty in store of value​

Barter system was made use of in previous times for the trade merchandise. It was a framework where one ware, item, or a few pieces of merchandise was traded for another. For example, assuming an individual has 1 kg of sugar and he needs to have 1 kg of jaggery in return for that, he can trade something similar assuming that there is somebody who will trade jaggery for sugar.