Question

What is one problem that might commonly occur when one is bartering?

Answer 1

The correct option is (B) two people have different ideas about the value of an item.

Further explanation:

A problem that commonly occurs is when one is bartering is when two people have different ideas about the value of an item. The two people should have an idea about the value of an item because the one who is giving and one who is taking should be agreed on that value.

BARTER SYSTEM

Bartering is an act of exchanging goods and services without the use of money. This is the act in which two parties are involved and they exchange goods without the use of money. In barter system, finding a barter partner who wants the same item which you have is difficult and that is one of the drawbacks of bartering.

Bartering is a time consuming and laborious process because it takes time to find out the same person who wants your item or vice-versa. When two people don’t have common measure of value then it’s a problem for both the parties.

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Answer details:

Grade: Middle Class

Subject: Social Studies

Topic: Barter System

Keywords: barter, value, item, goods, services, laborious, time-consuming, exchange

Answer 2

The correct answer is B. A is wrong because it’s not likely that someone would trade something of high value for something not as great. C is wrong because the barter system is all about exchanging goods for services, and it wasn’t usually an issue. D is wrong because there’s no issue with trading 2 items of similar value.