How does money solve double coincidence of wants
ecplain wwith example
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Explanation:
Double coincident of wants means that the demand of the two people raised at the same time for each others commodity for the exchange of the things....
Money solves the problem of double coincidence of wants as:-
It is authorised by the reserve Bank of India....
The reserve Bank of India authorises the money on the behalf of the central government....
No one, in India, could legally oppose the payment made in money....
So, we can exchange anything with the help of money....
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Answer:
... A person holding money can easily exchange it for any commodity or service that he or she might want. For example: It is no longer necessary for the shoemaker to look for a farmer who will buy this shoes and at the same time sell him rice.
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