Banner 0
Banner 1
Banner 2
Banner 3
Banner 4
Banner 5
Banner 6
Banner 7
Banner 8
Banner 9

Q.

The main drawback of the barter system is :


see full answer

Your Exam Success, Personally Taken Care Of

1:1 expert mentors customize learning to your strength and weaknesses – so you score higher in school , IIT JEE and NEET entrance exams.
An Intiative by Sri Chaitanya

a

Indivisibility of goods

b

Lack of double coincidence of wants

c

Lack of store of value

d

All of the above 

answer is D.

(Unlock A.I Detailed Solution for FREE)

Best Courses for You

JEE

JEE

NEET

NEET

Foundation JEE

Foundation JEE

Foundation NEET

Foundation NEET

CBSE

CBSE

Detailed Solution

There were several drawbacks of the barter system and they include a lack of store of value, the indivisibility of goods, and a lack of double coincidence of wants.
A barter system directly exchanges goods and services with other goods and services. The major drawback of this system is the exchange is not possible without the double coincidence of wants. One person needs to buy exactly what the other is willing to sell, and vice versa. Goods were indivisible; in other words, some goods cannot be divided into small parts to enable exchange. There was also a lack of store of value in the barter system; as the majority of the time, goods cannot be stored for future use.
 
Watch 3-min video & get full concept clarity
score_test_img

courses

No courses found

Ready to Test Your Skills?

Check your Performance Today with our Free Mock Test used by Toppers!

Take Free Test

Get Expert Academic Guidance – Connect with a Counselor Today!

best study material, now at your finger tips!

  • promsvg

    live classes

  • promsvg

    progress tracking

  • promsvg

    24x7 mentored guidance

  • promsvg

    study plan analysis

download the app

gplay
mentor

Download the App

gplay
whats app icon
personalised 1:1 online tutoring