Question

What is barter system ? Mention its limitations . ❤❤​

Answer 1

Answer:

all commodities are not of equal value and there is no common measure (unit) of value of goods and services, in which exchange ratios can be expressed.

Answer 2

Barter system :- The system if exchange of goods to goods is called barter system.

Limitations :-

♥ Two people with different needs are required to fulfill each other's need .

♥ Valuation of goods is difficult .

♥ There are many products which cannot be divided .

♥ Lack of standard deffered payments .

♥ Barter system is time consuming .

Hope it helps ✌

Shreya ❤