Choose the given statement is true/false:

The barter system made it easier to exchange things.

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True

False

answer is B.

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Detailed Solution

The above statement is false.
As it was money, not a barter system, that made it easier to exchange things. There is a double coincidence of wants associated with the barter system, which was eliminated with the introduction of money. Let's take the example of a boy who wants to sell his books in exchange for a guitar. In the barter system, he would have to look for a person who has a guitar and is also willing to buy his books. It is a difficult as well as time-consuming process. The boy can quickly sell his books now in exchange for money and use them to buy a guitar.
The correct statement would be, The barter system is not easier to exchange things.

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