ECONOMICS
MONEY MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which of the following is a disadvantage of of the barter systemI The rate of exchangeII Storage of wealthIII Acquisition of goods
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I and II only
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III only
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I and III only
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I, II and III
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Explanation:
Detailed explanation-1: -Other disadvantages of 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.
There is 1 question to complete.