A barter system is difficult and often impractical for several reasons: 1) A lack of the "double coincidence of wants" - one party must be seeking the exact item or service that the other party has,...
1. lack of double coincidence of wants 2. lack of common measure of value3. lack of store of value4. indivisibility of goods5. lack of deferred payment6. difficulty in transfer of wealth
Barter System is a very outdated and probably obsolete way of transfer or exchange of goods and services. For ex: If I am a rice farmer and you are a wheat farmer, we may want to exchange with one...