Question

What is Barter System? Write any two disadvantages of Barter system. ​

Answer 1

Barter System is a system of exchange in which one commodity is exchanged for another commodity.

Drawbacks of Barter Systems:

1. Lack of double coincidence of wants.

2. Lack of a common measure of value.

3. Indivisibility of certain goods.

4. Difficulty in making deferred payments.

5. Difficulty in storing value.

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Answer 2

Answer:

barter system is when we give something and take something in the place if the thing that we have given to another people