ECONOMICS
MONEY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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taking place without currency.
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carried out in very large markets.
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limited by availability and demand of goods traded.
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conducted without consumer protections.
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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. Was this answer helpful?
Detailed explanation-3: -The disadvantages are: 1. Lack of Double Coincidence of Wants 2. Lack of a Common Measure of Value 3. Indivisibility of Certain Goods 4.
Detailed explanation-4: -Lack of Common Measure of Value: One of the disadvantages of the Barter system is having no common unit to measure the worth of goods and services.