Question

8. Highlight the inherent problem in double coincidence of wants.

Answer 1

Highlight the inherent problem in double coincidence of wants. Double coincidence of wants means that when someone wants to exchange his goods with another person the latter must also be willing to exchange his good with the first person.

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Answer 2

for double coincidence of wants to work out, an individual must require what the other person is willing to give away and vice versa. If they do not require this than they would not be able to get what they want. that is why money is required so that people can exchange money for their immediate needs and wants.