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Define Or Explain Following Concept: Double Coincidence of Wants - Economics

Short Note

Define or explain following concept: 

Double coincidence of wants

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Solution

Double coincidence of wants: It implies that the needs of any two individuals should complement each other for the exchange to take place. That is, the commodities owned by two different individuals are required by each other.

Concept: Meaning of Money
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APPEARS IN

Micheal Vaz Economics HSC 12th Standard Maharashtra State Board
Chapter 11 Money
Exercise | Q 1.2 | Page 101
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