Q8.Which of the following is not a problem of Barter system of exchange ?
Store of value
Double coincidence of wants
Unit of acount
Unemployment
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Barter system goods can be exchanged against good and there is no involvement of money in such system. Barter system is old & out dated system and currently there is no effective existence of this system. ... Barter system is direct exchange of goods and services. It requires the double coincidence of wants.
Explanation:
The following are the main difficulties which were found in the barter system:
Double Coincidence of Wants: ...
Lack of a Standard Unit of Account: ...
Impossibility of Subdivision of Goods: ...
Lack of Information: ...
Production of Large and Very Costly Goods not Feasible:
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