explain double coincidence of wants with the help of an example
Answers
Answered by
7
okay listen, double coincide of wants is when,.. I need something,and you want to sell the exact same thing -and u need the item that I sell
Ex. I am a farmer who grows rice and u area farmer who grows wheat ,so.. u require rice ,and I am ready to sell rice to you . - and ,even I require wheat .. ,so instead of paying u , since there is a double coincidence of wants - we decide to EXCHANGE our goods .
this is very important in the barter system
Ex. I am a farmer who grows rice and u area farmer who grows wheat ,so.. u require rice ,and I am ready to sell rice to you . - and ,even I require wheat .. ,so instead of paying u , since there is a double coincidence of wants - we decide to EXCHANGE our goods .
this is very important in the barter system
Similar questions