Question

What was the shortcoming of the barter system that led to the evolution of money as a medium of exchange?

Answer 1

The reason behind this is double coincidence of wants

Answer 2

Answer:

HERE IS YOUR ANSWER DEAR..

Explanation:

1. Exchanging of goods was difficult. Demand of two persons for each other’s commodity should have risen at the same time, otherwise exchange was not possible. This is known as double coincidence of want.

2. It is a time consuming process.

3. Exact valuation of goods may not be take place at the time of exchange of goods.

4. It is difficult to get the product on the spot and at the right time.