barter system and its difficulties

“money is what money does”. Who among the following gave this definition of money?

• Crowther

• Walker

• Engine

• Bustein

The exchange of goods and services is made more efficient by:

• Barters

• Money

• Governments

• Some combination of government transfer and barter

Which of the following system referred to goods being exchanged For goods in olden days.

• functional system

• primary system

• Money system

• barter system

Barter is the trade of goods or services with ?

• free exchange of money

• exchange of goods and services

• exchange of services

•  None of them

Which of the following is an essential feature of the barter system?

• Double coincidence of wants

• existence of money

• exchange of goods for money

• Availability of product

Barter is inconvenient because

• of the necessity of the double coincidence of wants.

• large amounts of money are required.

• gold is bulky and difficult to transport during day-to-day transactions

• because resources are limited.

Perishable goods can lose their value.

• True

• False

What possess general acceptability?

• Bank draft

• Money

• Bill of exchange

• None of these

There is no common denomination under barter exchange to express the exchange ratios

• True

• False

Which one of these is a limitation of barter system?

• Lack of double coincidence of wants

• Lack of store of value

• Lack of common measure of value

• All of these