Very good Kirti, good answer but I would like to add some more interesting consequences that would result because of lack of friction.
1. A sound can be produced in a frictionless world but sound would never become inaudible ever because of lack of damping (which is a friction) people would hear a sound spoken say 1000 years ago...actually world would be too noisy to live.
2. The world would be too stormy to live. Because the force got from gaseous expansion by solar heat won't die away and with enough time storms would be too tremendous for anyone to live.
3. All ocean waves would be tsunamis or even greater than that, plus they would never calm.
4. Liquids on floor may climb up your walls, liquids may also travel uphill! (because of super-fluidity). Just Imagine!