BANKING AFFAIRS

Detailed explanation-1: -The problems associated with the barter system are inability to make deferred payments, lack of common measure value, difficulty in storage of goods, lack of double coincidence of wants.

Detailed explanation-2: -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.

Detailed explanation-3: -Expert-verified answer The drawbacks of barter system are: Lack of double coincidence of wants. The lack of agreement between buyer and seller of goods arises problems in the absence of medium of exchange. Lack of divisibility.