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Q.

Mention if the given statement is true or false:


The barter system lacks the double coincidence of wants.


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a

True

b

False 

answer is A.

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Detailed Solution

The given statement is true.
The barter system refers to the direct exchange of goods and services. In this way, it relates to that system by which one commodity is exchanged for another without money. And one of the demerits of the barter system is the lack of double coincidence of wants. Double coincidence of wants refers to a situation when both the parties involved in the exchange of goods in a barter economy have to agree to sell and buy each other's commodities.
 
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