How do money solve the problum of
double coinvudencelnte Explain
with an example.
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Answer:
>>>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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☆☞ [ Verified answer ]☜☆
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 :---
The shoemaker wants to buy wheat and the farmer wants to buy shoes then they both can exchange their commodities.
jai siya ram☺ __/\__
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