Limitation of barter system:Barter is a method of exchange by which goods or services are directly exchanged for other goods or services without using a medium of exchange,There have some limitation:...
Short comings of barter system:
1.Lack of double coincidence of wants of exchange: Suppose a person possesses wheat and want to exchange it for rice,then he has to find a person who not only have...
Answer The barter system is a good system to have. It means for example that if I wanted you to fix my car, while I would supply the parts you would fix it for free and in turn if you wanted a room...
Barter System is a very outdated and probably obsolete way of transfer or exchange of goods and services.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...