What is a major disadvantage of using barter instead of money? Write a few sentences to explainxG.A- BI

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

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

Economics (MindTap Course List)

13th Edition

ISBN:9781337617383

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter12: Money, Banking And The Financial System

Section: Chapter Questions

Problem 5QP

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What is a barter system in any economy and what are its drawbacks??
How does money overcome the problem of barter system explain?
barter – the trade of foods for goods- is booming. according to the us department of commerce, barter accounts for 30% of the world’s total business, and experts estimate tat 65% of fortune 500 companies engage in barter to one degree or another. if a medium of exchange clearly had advantages over barter, why does barter exist today?
Before the introduction of money, there was a system of trade called the barter trade. Discuss the importance of barter trade in relation to the time it existed.? Do you think barter trade in spite of the use of money today holds any value in modern times? What is money?
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