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Which one is the difficulty of the Barter System?
Lack of Double Coincidence
Difficulty of Division of the Goods
Lack of General Acceptable Measure of Value
All the above
- Lack of Double Coincidence: In a barter system, both parties need to want what the other offers. Finding someone who both needs and offers the desired goods is tough.
- Difficulty of Division of the Goods: Dividing certain goods into smaller units can be impractical. For example, splitting a cow for smaller trades isn't viable.
- Lack of General Acceptable Measure of Value: Without money, it's hard to agree on what each item is worth compared to others.
- All the above: The barter system suffers from all the issues mentioned.
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