what is bartar system? what are its drawbacks?
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what is bartar system? what are its drawbacks?
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Answer:
Drawbacks of Barter Systems: 1. Lack of double coincidence of wants. 2. Lack of a common measure of value.
Explanation:
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Question: What is Bartar System? What are its drawbacks?
Answer: Barter system is a system of exchange in which one commodity is exchanged for another commodity.
Drawbacks of Bartar System:
→ Lack of double coincidence of wants.
→ Lack of a common measure of value.
→ Indivisibility of certain goods.
→ Difficulty in making deffered payments.
→ Difficulty in storing value.
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