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Question
Which of the following is not a problem of barter system of exchange?
Which of the following is not a problem of barter system of exchange?
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Solution
The correct option is D Unemployment
Barter system was a
system of exchange where goods were exchanged for goods and there was no common
medium of exchange in the economy. Barter system had many drawbacks like lack
of double coincidence of wants, lack of a common unit of value, difficulty of
future payments or contractual payments and difficulty of storage of value and
transfer of value. Therefore, unemployment is not a problem related to barter system.
Barter system was a system of exchange where goods were exchanged for goods and there was no common medium of exchange in the economy. Barter system had many drawbacks like lack of double coincidence of wants, lack of a common unit of value, difficulty of future payments or contractual payments and difficulty of storage of value and transfer of value. Therefore, unemployment is not a problem related to barter system.
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