Read the following dialogue between Neeta and Sita:

Neeta: I want to shift to Singapore. What do I do with my house?

Sita: I can give you '10 antique pieces' for it.

Neeta: But, I do not need antique pieces.

Sita: Then, let the house remain where it is.

Which of the following problems is being faced by Neeta and Sita in their exchange process?

(a) Lack of medium of exchange

(b) Lack of transfer of value

(c) Lack of store of value

(d) Lack of standard for deferred payment

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Solution

(a) Lack of medium of exchange. If a medium of exchange (like money) was available, Neeta and Sita would have settled the deal and both of them would have received whichever goods they wanted.

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