ICSE Class X Economics 2020 Solved Papers
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Question : 10
Total: 36
Explain any one disadvantage of the barter system of exchange.
Solution:
Demerits of Barter system of exchange are as follows:
(i) Need for double coincidence of wants : The barter form of exchange can take place only when the two parties need each other's goods in the form of exchange.
(ii) Difficulty in storing value : In the barter system, it is very difficult and inconvenient to store weath for future use goods like foodgrains, cloth, cattle, sheep etc.
(any one)
(i) Need for double coincidence of wants : The barter form of exchange can take place only when the two parties need each other's goods in the form of exchange.
(ii) Difficulty in storing value : In the barter system, it is very difficult and inconvenient to store weath for future use goods like foodgrains, cloth, cattle, sheep etc.
(any one)
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