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What is the demerits of barter …

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What is the demerits of barter system?
  • 2 answers

Manoj Desiti 5 years, 4 months ago

Nice

Gaurav Seth 5 years, 4 months ago

The disadvantages of barter system were Goods were limited, Need for Double Coincidence of wants, Difficulty of Division and Sub - division of Goods, Difficulty in calculating the value of goods, Difficulty in the case of services and Difficulty in Strong Value.

  • In barter system the goods were limited. Barter system was lead only to lower level development.
  • Barter system was good when needs were limited. Needs of man were increased but the supply of goods were not enough to satisfy man’s needs.
  • Needs differentiate from man to man. If either parties get what they need then it is double coincidence. If not it is a trouble as they don’t get what they need.
  • In the barter system it is difficult to divide and sub-divide goods.Posibility of exchange his good for only one good not for two or more.
  • The value of the goods cannot be distributed equally as there were no measure during that period.
  • The exchange of goods worth a service of a person was impossible as it was inconvenient to measure it. Barter sytem cannot exchange goods for services.
  • Perishable goods could not saved as wealth for their future expenses. The economy could not contribute anything towards capital formation of the country too.
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