Explain the problem of double coincidence of wants faced under barter system.

Q: Money overcomes the problem of a double coincidence of wants inherent in the barter system through…

A: The old trading process of exchange goods is termed a barter system. For decades and long before…

Q: There would be very few comedians in a barter economy.  Do you agree or disagree with this…

A: The money is used as the medium of exchange in the modern market systems but the case was not the…

Q: What are the advantages of an economy using money as opposed to a barter system of exchange?

A: Money can be defined as any good that is widely accepted for purpose of exchange and repayment of…

Q: Why (not how) did money evolve out of a barter economy?

A: A market system with exchange of goods and services with goods and services is known as barter…

Q: Gold and silver have been historically used as materials for making commodity money (coins) by many…

A: The functions of money can be sub-divided into primary functions and secondary functions. The…

Q: In the POW camps during World War II, cigarettes fulfilled the functions of money because they acted…

A: Money is a widely accepted transaction prices hold value over a time period. The value of money is…

Q: The use of money as a medium of exchange represents the most important service that money renders.…

A: The use of money as medium of exchange is an important function because it eliminates the problem of…

Q: What is a major disadvantage of using barter instead of money? Wnite a few sentences to explain

A: Barter System: When goods are directly traded for the other goods and there is no involvement of…

Q: an saw an item at a local department store that she considered purchasing but did not. After getting…

A: Forgery: It refers to a situation in which the people signs or copy the signature of some other…

Q: The use of money is more efficient than barter because the introduction of moneyTop of Form reduces…

A: Money is a resource or asset that is accepted and used as an exchange medium to buy commodities and…

Q: Main difficulties due to the barter system was failed ?

A: Definition Money did not exist in man's early history. Since each family was self-sufficient, there…

Q: one method to spend more money is to deduct an amount automatically from your salary in a direct…

A: The direct deposit system refers to the system that allows banks to transfer a specific amount…

Q: ifferentiate the barter vs. coinage vs. paper/polyme

A: Money: Money is an object or verifiable record that is commonly used in a particular country or…

Q: What's the differrence between small-denomination time deposits and large-denomination time…

A: Time deposits are deposits that are deposited on the basis of a certain time period like 5 years, 10…

Q: What is barter system in an economy and what are its drawback!

A: According to the given question Actually before the evolution of given money goods were actually…

Q: Debit cards are considered as __________ money

A: According to time, place and different circumstances money has evolved itself through many different…

Q: Money overcomes the problem of a double coincidence of wants inherent in the barter system through…

A: In an economy, money plays significant role to make an exchange to be effective and efficient.

Q: DISCUSS THE DISADVANTAGES OF BARTER SYSTEM   THANK YOU

A: The barter system was used in earlier times to exchange commodities. In this system, one good was…

Q: What is a barter system in any economy and what are its drawbacks??

A: Definition: A barter system is called an old method of exchange. This system has been rehearsed for…

Q: Exchanges take less time in a money economy than in a barter economy because a double coincidence of…

A: The money economy refers to the economy where the unit of currency prevalent is the money in hand or…

Q: Discuss in detail that how different functions of money (for instance, medium of exchange, a unit of…

A: The barter economy is also known as a commodity for commodity exchange economy because under the…

Q: Would you consider Noodles or Cigarettes have become the new form of currency within the prison…

A: The concept of using items like noodles or cigarettes as a form of currency within prison systems is…

Q: If ours were a barter economy, how would you pay your tuition bill? What if your college did not…

A: The system in which one commodity is exchanged for another commodity is known as barter system.

Q: Exchanging goods and services for the goods and services is called barter system. True False

A: The barter system is the system that is used in the old method of exchange between two or more…