Limitations of a Barter System
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Limitations of a Barter System

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Questions and Answers

What was a prominent limitation of the barter system?

  • Decrease in mutual exchanges (correct)
  • Increase in personal needs
  • Simplicity in economic structure
  • Lack of agricultural exchange

    • How did socio-economic development impact the barter system?

  • Made it more applicable
  • Simplified the economic structure
  • Limited its effectiveness (correct)
  • Increased mutual exchanges

    • What did the earlier years' economic structure lack as compared to later years?

  • Specific demands (correct)
  • Diversification of needs
  • Urbanization
  • Decrease in personal needs

    • How did increasing population affect the barter system?

    <p>Decreased mutual exchanges</p> Signup and view all the answers

    What did the shoe-maker exchange his shoes for?

    <p>Ghee and clothes</p> Signup and view all the answers

    Why did individuals in earlier years carry out agricultural exchange?

    <p>To meet their sustenance needs</p> Signup and view all the answers

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