What are the difficulties of the Barter system?
Answers
1. It is very time consuming
2.it is a complex process
3. There is no fix value of goods and services
4.there are many products that cannot be divided.
5.valuation of goods is very difficult.
6. Two people with different types of needs and goods must be there to satisfy each other's needs
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Answer:In Barter system, goods and services are exchanged for other goods and services. In this type of transaction, money does not play any role. For eg. Exchange old furniture with computer.Difficulties in Barter system:
Problems of double coincidence of wants.
Lack of common measure of value.
Difficulties in storage of goods.
Indivisibility of certain goods.
Problem of making differ payment.