Advertisements
Advertisements
Question
What do you mean by double coincidence of wants?
Short Answer
Advertisements
Solution
When two people in a barter system decide to trade goods and agree to exchange each other’s products, this situation is known as a double coincidence of wants. For instance, if a farmer wants to trade wheat for cloth, he needs to find a weaver who not only has cloth but is also willing to trade it for wheat at the same time.
shaalaa.com
Is there an error in this question or solution?
