Use app×
Join Bloom Tuition
One on One Online Tuition
JEE MAIN 2025 Foundation Course
NEET 2025 Foundation Course
CLASS 12 FOUNDATION COURSE
CLASS 10 FOUNDATION COURSE
CLASS 9 FOUNDATION COURSE
CLASS 8 FOUNDATION COURSE
0 votes
18.2k views
in Economics by (52.9k points)
Explain "difficulty in storing wealth" problem faced in the barter system of exchange

1 Answer

0 votes
by (30.2k points)
selected by
 
Best answer

Individuals tend to store a part of their wealth or earnings as savings to be used for future needs or as an investment. However, it is very difficult to store many types of commodities. For example, perishable goods such as grains, milk, meat, etc. could not be stored to exchange goods in future. In addition to this, transportation of goods from one place to another was tedious and also difficult. Therefore, the transfer of value and wealth storage was one of the major difficulties in the Barter system.

Welcome to Sarthaks eConnect: A unique platform where students can interact with teachers/experts/students to get solutions to their queries. Students (upto class 10+2) preparing for All Government Exams, CBSE Board Exam, ICSE Board Exam, State Board Exam, JEE (Mains+Advance) and NEET can ask questions from any subject and get quick answers by subject teachers/ experts/mentors/students.

Categories

...