The Barter System
Test your knowledge of the barter system with this quiz! Explore the challenges and limitations of bartering and see if you agree with the statement that there are no difficulties in the barter system.
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The Barter System
Quiz • 5 Questions
Study Notes
1 min • Summary
The Barter System - Podcast
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List of Questions5 questions
- Question 1
- No problem of divisibility
- Ease of storage for perishable goods
- Abundance of common measure of value
- Lack of double coincidence of wants
- Question 2
- The barter system had no problem of divisibility
- The barter system was too efficient for the growing civilization
- Human wants multiplied and the barter system could not meet the increased demands
- The barter system had a common measure of value for all goods
- Question 3
- There was no problem of storage
- Storage was unnecessary in the barter system
- Commodities exchanged were all non-perishable
- Most exchanged commodities were perishable
- Question 4
- All goods had the same value in the barter system
- The barter system had a universal currency
- The barter system had a standardized measure for all goods
- There was no common measuring unit of account
- Question 5
- Exchange cannot take place unless there is a double coincidence of wants
- Barter can occur without double coincidence of wants
- Double coincidence of wants makes barter more efficient
- Double coincidence of wants is not a limitation