Question

what is barter system explain briefly ​

Answer 1

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Here is ur answer..!!

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WHAT IS BARTER SYSTEM...???  :

(Briefly explained as much as possible from myself....!! )

• In the early times , people used to exchange one commodity for another, depending on their requirement under the barter system. However , exchanging goods in the barter system required double coincidence of wants.

• The exchange of goods , property , services etc. for other goods, etc. without using money is known as Barter System.

• Barter system is a time taking and long system. In which peoples wasted their essential times a lot.

• Barter is a system of exchange in which goods are directly exchanged without the use of the money.

• For example : Shoe manufacture wants to sell shoes in the market and wants to buy wheat. For this, he would look for a wheat growing farmer who would exchange the wheat with shoe.

• This system creates lots of problems and by replacing this system money becomes the medium of exchange.

• Through transaction ( money ) system all problems solved and this system also save the essential time of the peoples. ( Time saving system ).

LIMITATIONS OF THE BARTER SYSTEM ARE  :

• Lack of double coincidence.

• Lack of divisibility.

• Lack of measure value

• Problem of store of value.

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Answer 2

Answer:

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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.