All In One - Economics

Book: All In One - Economics

Chapter: 3. Money and Credit

Subject: Social Science - Class 10th

Q. No. 1 of Self Assessment

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What are the difficulties of the Barter system?

Double coincidence of wants: One of the most difficult of barter system is the double coincidence of wants in which the buyer and seller should agree to sell each other's commodity in exchange even if they are not interested

Difficulty in finding buyer and seller: It is very difficult to find the buyer who is need of commodity which the seller wants to sell.

Store of value: the Barter system lacks the property of storing of value because the sold commodities cannot be saved for future use whereas money can be easily saved as a deposit.

Chapter Exercises

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