Class 10 Exam > Class 10 Questions > Stata the disadvantages of barter system?
Start Learning for Free
Stata the disadvantages of barter system?
Verified Answer
Stata the disadvantages of barter system?
Need for presence of double coincidence of wants: For barter to occur between two people, both would need to have what the other wants.
Absence of common measure of value: In a monetary economy, money plays the role of a measure of value of all goods, so their values can be measured against each other; this role may be absent in a barter economy.
Indivisibility of certain goods: If a person wants to buy a certain amount of another 's goods, but only has for payment one indivisible unit of another good which is worth more than what the person wants to obtain, a barter transaction cannot occur.
Lack of standards for deferred payments: This is related to the absence of a common measure of value, although if the debt is denominated in units of the good that will eventually be used in payment, it is not a problem.
Difficulty in storing wealth: If a society relies exclusively on perishable goods, storing wealth for the future may be impractical. However, some barter economies rely on durable goods like pigs or cattle for this purpose.
This question is part of UPSC exam. View all Class 10 courses
|
|
Explore Courses for Class 10 exam
|
|
Similar Class 10 Doubts
Top Courses for Class 10View all
Stata the disadvantages of barter system?
Question Description
Stata the disadvantages of barter system? for Class 10 2024 is part of Class 10 preparation. The Question and answers have been prepared according to the Class 10 exam syllabus. Information about Stata the disadvantages of barter system? covers all topics & solutions for Class 10 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Stata the disadvantages of barter system?.
Stata the disadvantages of barter system? for Class 10 2024 is part of Class 10 preparation. The Question and answers have been prepared according to the Class 10 exam syllabus. Information about Stata the disadvantages of barter system? covers all topics & solutions for Class 10 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Stata the disadvantages of barter system?.
Solutions for Stata the disadvantages of barter system? in English & in Hindi are available as part of our courses for Class 10.
Download more important topics, notes, lectures and mock test series for Class 10 Exam by signing up for free.
Here you can find the meaning of Stata the disadvantages of barter system? defined & explained in the simplest way possible. Besides giving the explanation of
Stata the disadvantages of barter system?, a detailed solution for Stata the disadvantages of barter system? has been provided alongside types of Stata the disadvantages of barter system? theory, EduRev gives you an
ample number of questions to practice Stata the disadvantages of barter system? tests, examples and also practice Class 10 tests.
|
|
Explore Courses for Class 10 exam
|
|
Suggested Free Tests
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
|
© EduRev
|
Education Revolution
|
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup