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Tate Ponce
History
22 June, 19:50
What are the disadvantages of a barter economy
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Francis Wilkerson
22 June, 19:57
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Let's say you have a chicken and you want to trade said chicken for a cow. A barter economy means that you have to find someone who has a cow and wants a chicken. You must rely on a person coincidentally wanting a chicken but has a cow.
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Dean
22 June, 19:57
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Disadvantage # 1. Lack of Double Coincidence of Wants: The functioning of the barter system requires a double coincidence of wants on the part of those who want to exchange goods or services ... Consequently, if the double coincidence of wants is not matched exactly, no trade is possible under barter.
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