Explain double coincidence of wants with the help of an examples.
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The situation in which both the parties have to agree to buy and sell each other commodities is called double coincidence of wants. FOR EXAMPLE : The shoemaker wants to buy wheat and the farmer wants to buy shoes then they both can exchange their commodities.
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double coincidence of wants is also known as barter system.it was used in earlier times as an exchange medium due o the absence of money. for example if somebody wants an apple and don't want a tabel and other wants table and don't want apple so they exchange their good with each other. and both would be befited
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