Economy, asked by vasuki96, 1 year ago

By what is double coincidence of wants ?

Answers

Answered by neaaa
1
it means that tha both parties have to agree tosell and buy each other's commodity i.e. what a person desires to sell is exactly what the other person wishes to buy. ... In a barter system commodities bare exchanged with commodities of other person without the use of money.
Answered by Anonymous
3

\huge\bold\pink{Answer}

\huge\underline\mathfrak{Double\:Coincidence\:Of\:Wants}

It refers to the situation when the goods a seller wants to sell is wanted by a buyer and the thing or assest that buyer have is need of seller.

In simple words,this is based on \huge\mathfrak{Barter\:System}

Where things are exchanged instead of buying on basis of money.

•But with the introduction of money in market, the problem of double coincidence of wants is solved.

Similar questions