Question

hoe does money solve the problem of double coincidence of wants .explain with eg​

Answer 1

Answer:

Double Coincidence of Wants is an essential feature in a barter system, where goods are directly exchanged without the use of money. ... All he has to do is to find a buyer for his shoes, who will pay him money for them.

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Answer 2

Double Coincidence of Wants is an essential feature in a barter system, where goods are directly exchanged without the use of money. However, in an economy using money as a medium of exchange, eliminates this by providing the crucial intermediate step.

For example, it is not necessary for a shoemaker to look for a farmer who will buy shoes made by him and at the same time, sell rice to him. All he has to do is to find a buyer for his shoes, who will pay him money for them.

With this money he can purchase rice or any other commodity available in the market.