In the case of the barter system which of the following is a disadvantage while repaying a loan?

Locally agreed to repay the loan for the specific commodity

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Availability of quality commodity as agreed upon

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Arrangement of some other specific commodity as agreed upon

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

Value of the specific commodity remains the same

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Open in App

Solution

The correct option is C
Arrangement of some other specific commodity as agreed upon

In the case of the barter system, while repaying loans, a problem may arise with regards to the arrangement of some other specific commodity as agreed upon. It can create several obstacles in the process of economic growth of a country.

Suggest Corrections

Similar questions

Which of the following effects shows that some people consider the price of a commodity as the true indicator of its quality?

Q18. Consider the following statements:

1. A commodity derivatives market or exchange is a public marketplace where commodities are contracted for purchase or sale at an agreed price.

2. These purchases and sales are made under the terms and conditions of a standardized futures contract.

Which of the following statements are correct?

Join BYJU'S Learning Program