ICSE Class X Economics 2019 Solved Papers
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Briefly explain the following with reference to the barter system of exchange :
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Question : 27
Total: 40
Lack of common measure of value.
Solution:
Lack of Common Measure of Value : In barter system, there was absence of a common unit of measurement in which the value of goods and services can be measured. In the absence of common unit, proper accounting was not possible.
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