Answer:
In barter system of exchange, there was a lack of common measure of value. In the absence of a common unit, proper valuation was not possible, e.g cloth is measured in metre while milk is measured in litre. Hence, under barter system these commodities were not measurable in a common unit which complicated the process of exchange. But with the evolution of money, this problem has been solved. Now, each and every commodity can be expressed in terms of money e.g one metre of cloth costs Rs.50 and one litre of milk cost Rs.45. Therefore, it has changed human lives in the following ways: (i) People's standard of living has improved. (ii) It has facilitated the exchange process.
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