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WorksheetsBarter System
Total questions: 8
Worksheet time: 3mins
Barter system is the exchange of goods and cash.
True
False
there are no problem faced when people are using barter system.
True
False
many farmers getting paid through corps, clothes and other items.
True
False
perishable goods can lose its value.
True
False
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.
Which of the following is not a problem of barter system?
Store of value
Unit of account
Double coincidence of wants
Unemployment
read the following dialogue between the two people:
Sita: i want 1 kg of potatoes.
Rani: What will you give in exchange?
Sita: i can give you 2 litres of milk in return for the potatoes.
Rani: I don't need milk. I want a pair of shoes.
which of the following problem is being faced by sita and rani in their exchange process?
lack of double coincidence of wants
lack of store of value
absence of common unit of value
lack of standard of defferred payment
