Question

identify the condition when both the parties is barter economy have to agree to sell and buy each others commodities? what is it called

Answer 1

both parties the seller and the buyers have to agree to sell and buy each other commodities goods are directly exchange without the use of money and this is known as double coincidence of wants.......... for example a shoe maker wants to sell shoes in the market and buy wheat the Shoemaker will first exchange shoes for money and then exchange the money for wheat if the shoe maker had to directly exchange shoes for weed without the use of money you would have to look for a wheat growing Pharma who not only wants to sell wheat but also wants to buy the shoe in exchange both the parties have to agree to sell and buy each others commodities this process is very difficult time consuming and and healthy and this is what we call the double coincidence of wants....


hope this helps best of luck