Question

Which of the following is not true regarding the inconvenience of barter exchange A lack of double coincidence of wants B absence of divisibility C difficulty in storing wealth D availability

Answer 1

$\begin{lgathered}\boxed{\begin{minipage}{14 cm}\bf{1) In barter system, goods are exchanged without the use of money. Hence, double coincidence of wants is an essential feature\\ 2) In barter system, money does not play as a medium of exchange\\\\3) Option (d) is the answer}\end{minipage}}\end{lgathered}$

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Answer 2

Explanation:

Barter system was a system of exchange where goods were exchanged for goods and there was no common medium of exchange in the economy. Barter system had many drawbacks like lack of double coincidence of wants, lack of a common unit of value, difficulty of future payments or contractual payments and difficulty of storage of value and transfer of value. Therefore, unemployment is not a problem related to barter system.

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