what is barter system write it's disadvantage
Answers
hi mate.
here is you answer strats
but you want to know that first the major drawbacks of the barter system were: (i) Lack of double coincidence of wants It was a major drawback of the barter system.
so mate it means it was very rare when the owner of some goods or services could find someone who wanted his goods or services and possessed that goods or services that the first person wanted...
when it started mate that known as Barter System Or Double Coincidence Is The System In Which A Person Exchange His/her Commodity or Service which the other person can provide.
some disadvantages-
(i)Lack of Double Coincidence of Wants: Barter system can work only when both buyer and seller are ready to exchange each other’s goods.
(ii)Lack of Common Measure of Value: In the barter system, 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.
(iii)Lack of Standard of Deferred Payment: The borrower may not be able to arrange goods of exactly same quality at the time of repayment.
i hope mate it helpfull to you..
Answer:
Barter System is a system of exchange in which one commodity is exchanged for another commodity.
Barter System is a system of exchange in which one commodity is exchanged for another commodity. Drawbacks of Barter Systems:
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.
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.
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.
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.
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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