Explanation:
It is said that barter is 'inefficient' because: There needs to be a 'double coincidence of wants' ... If a person wants to buy a certain amount of another's goods, but only has for payment one indivisible unit of another good which is worth more than what the person wants to obtain, a barter transaction cannot occur
There is no common measure of value; therefore, it is difficult to find out any fixed ratio for exchanging goods and services. For example we can't decide how much cheese we will get in return for 1 kg rice. Different people will have different measures.
