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Limitaions of barter exchange

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Limitaions of barter exchange

Posted by Disha Bhardwaj 5 years, 3 months ago

CBSE > Class 12 > Economics

2 answers

Aelina Taqvi 5 years, 3 months ago

Limitation of barter system: 1. Lack of double coincidence of want 2. Lack of unit of value means you have horse and you wamt wheat so you can't exhange horse with wheat bcoz horse of more value then wheat. 3. Difficulty in divisibility of good:again same thing that you have horse worth 2 lac and you want wheat worth 1 lac so you cant just cut the horse in two pieces and exchange the good. 4. Problem of storage : if you have potato and you are not using it and you want rice so until you get someone with mutual want you have to store potato but it is perishable so you just cant store it for long time. 5. Complex calculations: in barter system you have to exchange to goods so calculation become very complex at that point.

P Patel 5 years, 3 months ago

there are three limitations of barter system: issue of mutual adjustment of wants difficulty in storing value problem of measurement of value

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