Briefly state the advantages and disadvantages of barter trade as a method of trade

Briefly state the advantages and disadvantages of barter trade as a method of trade.

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The advantages of barter trade are:
Barter trade is effective where one needs an essential need and there is no other method of trade
It is handy where there is no currency
The trade is used to meet the demands of people whose economy is at a subsistence level such as hunters
The disadvantages of barter trade are:
It is not possible to determine the exact value of the goods
Some goods cannot be divided into smaller quantities
Sometimes traders lacked double coincidence of wants
Bulky and perishable commodities had the problem of transportation especially over long distance
Lack of a common language prolonged transactions

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Dana05 answered the question on May 23, 2019 at 09:18

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