Which Of The Following Is The Main Problem With The Barter System Of Exchange?

Taking into consideration the same example of rice these are perishable goods one cannot save it like money moreover money is not perishable. MCQ Questions for Class 10 Social Science with Answers was Prepared Based on Latest Exam Pattern. Lack of Double Coincidence of Wants. A Money can easily exchange any commodity b It is based on double co-incidence of wants c It is generally accepted as a medium of exchange of goods with money d It acts as a measure and store of value. A lender and borrower. B traders must spend considerable time searching for trading partners. For example one cow would be exchanged for four sheep.

Barter system had many drawbacks like lack of double coincidence of wants lack of a common unit of value difficulty of future payments or contractual payments and difficulty of storage of value and transfer of value.

In a barter system a person who wants to exchange his goods must find some person who is willing to exchange his commodity with his commodity. Which is the main problem with the barter system of exchangea. B It is based on double co-incidence of wants. Economics questions and answers. A Money can easily exchange any commodity b It is based on double co-incidence of wants c It is generally accepted as a medium of exchange of goods with money d It acts as a measure and store of value. D no other mediums of exchange are available.

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Which of the following is the main problem with the barter system of exchange?. The barter system often creates an unbalanced system of trade where parties are unable to find others willing to trade. Lack Of Double Coincidence Of Wants -The direct exchange of one commodity for an other requires direct satisfaction of both the parties. For example A can exchange goods with B only when A has what B wants and B has what A wants.

Credit or loan refers to an agreement between. In a barter system a person who wants to exchange his goods must find some person who is willing to exchange his commodity with his commodity. Even if the two persons who want each others goods meet by coincidence the problem arises as to the proportion in.

Undermines the right to bequeath. Ch 3 Money and Credit. Deferred payments involve those payments that are made sometime in future.

Lack of Double Coincidence of Wants. It undermines the right to bequeath. DEFECTS OF BARTER SYSTEM -Following are the main defects of this system.

It requires a coincidence of wants D. Taking into consideration the same example of rice these are perishable goods one cannot save it like money moreover money is not perishable. For example interests rents loans and insurance premium.

C the need for a banking system in the economy decreases. Double Coincidence of Wants. In a search for a person to exchange their surplus in a barter system a person would end up incurring very high costs.

Fosters specialization and division of laaborc. Encourages self-interests and selfishnessb.

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Barter system can work only when both buyer and seller are ready to exchange each others goods.

A Lack of double coincidence of want b Absence of divisibility c Difficulty in storing wealth d Availability of money as a medium of exchange. The main difficulty of barter system is the lack of double coincidence of wants. The major limitations of Barter Exchange are. Even if the two persons who want each others goods meet by coincidence the problem arises as to the proportion in. A Money can easily exchange any commodity b It is based on double co-incidence of wants c It is generally accepted as a medium of exchange of goods with money d It acts as a measure and store of value. Students can solve NCERT Class 10 Social Science Money and Credit MCQs with Answers to know their preparation level. DEFECTS OF BARTER SYSTEM -Following are the main defects of this system. 1 Please choose one Following are the problems in developing the economies EXCEPT. Credit or loan refers to an agreement between.

Credit or loan refers to an agreement between. DEFECTS OF BARTER SYSTEM -Following are the main defects of this system. However such double coincidence is very rare. Which is the main problem with the barter system of exchangea. Lack of Double Coincidence of Wants. C money eliminates the ʺdouble coincidence of wantsʺ problem. A Money can easily exchange any commodity b It is based on double co-incidence of wants c It is generally accepted as a medium of exchange of goods with money d It acts as a measure and store of value.