write two disadvantages of the barter system ???
Answers
Answer:
Drawbacks of Barter Systems:
Lack of double coincidence of wants.
Lack of a common measure of value.
Indivisibility of certain goods.
Difficulty in making deferred payments.
Answer;
The advantages of the barter system include:
Simplicity
As efficient as the present monetary system is, the intricate complexities inherent can’t be denied. On the contrary, the barter system is stripped of all menace. It involves a direct give and take of the commodities.
No Real Concentration Of Power
There is a limit beyond which commodities can’t be stored and hence the extreme concentration of wealth is a bleak possibility.
No Overexploitation Of Natural Resources
In a barter ecosystem, people tend to be a jack of all trades. People on their own try to produce or manufacture goods of utility. The quantum of production is enough, not plentiful. Thus, degradation and greedy exploitation of natural resources remain relatively contained.
Gm