Then you would have a bartering system like we had 100's of years ago. Here's my 6x beaver pelts for your knife. Do I need to explain to you how inefficient that is?
No, that's potluck (https://en.wikipedia.org/wiki/Potluck), and, given its diversity across cultures and continued presence, it can't be very inefficient.
Potluck...are you serious? There's nothing efficient or inefficient about the concept of potluck. It's a cultural celebration, not a "I need this to provide sustenance to my being".