Question

to each other. This is called double coincidence of wants
Q. 2. Can you think of some examples of goods/services being exchanged
or wages being paid through barter ?
Ans. When shoes maker exchanged a pair of shoes with some quant​

Answer 1

Explanation:

Barter systems involve payments through goods instead of money but required two participants interested in each other's services or goods this is referred as double coincidence of wants.

In old times this bartering was followed...

Its example:

A shoe maker wants to buy wheat but a farmer wants clothes but also the clothe seller wants shoes....

Now, here a controversy has arisen as the three persons wants each other's goods...

To end these and to solve these controversies,

money is used to replace the barter system....

HOPE THIS HELPS YOU.....

Answer 2

Answer:

Explanation:

The coincidence of wants is an economic phenomenon where two parties each hold an item the other wants, so they exchange these items directly without any monetary medium. This type of exchange is the foundation of a bartering economy.

Double coincidence of wants means that both of the parties have to agree to sell and buy each commodity.Besides barter, other kinds of in-kind transactions also suffer from the coincidence of wants problem in the absence of a medium of exchange. Romance, for example often relies on a double coincidence of wants.

examples of goods/services being exchanged or wages being paid through barter?in the rural areas generally crops and food grains are directly exchanged without the use of money. Similarly, agricultural labourers are normally paid not in cash but in kind, that is 4-5 Kg wheat or rice per day.