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What are the drawbacks of barter system? |
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Answer» Barter System is a system of exchange in which one commodity is exchanged for another commodity.\xa0Drawbacks of Barter Systems:1. Lack of double coincidence of wants.2. Lack of a common measure of value.3. Indivisibility of certain goods.4. Difficulty in making deferred payments.5. Difficulty in storing value. There might not be double coincidence of wants. That is what one party want to sell might be the product the other party wants. |
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