How does money solve the problem of double coincidence of wants? Explain with an example of your own.
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lol.. currently I am in Chandigarh;)
Small farmers normally have no collateral to pledge against loans. Collateral is an asset that the borrower owns and uses this as a guarantee to a lender until the loan is repaid. That is why banks have no interest to lend to small farmers.
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hiii why you're gOiNG To DiE dOn'T DiE .. bE hApPy \(๑╹◡╹)ﾉ
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. All he has to do is find a buyer for his shoes.
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