Question

What do mean by double coincidence of wants? explain in detail..

Answer 1

HEYYA USER !! HOPE MY ANSWER WILL HELP YOU IN ANYWAY ^_^ !!

so , here we go with your answer :)

"Double Co-Incidence of wants"

It's a kind of important criteria which is indeed to get full filled for "BARTER SYSTEM" . So , let me explain what is barter system ^_^!! Basically , It's an ancient method for trading . In this system people use to exchange things with one another in the terms of full filling their daily needs , in these method both the party were indeed to be satisfied from the stuff they were exchanging from their goods .

Hence , the term is known as "DOUBLE CO-INCIDENCE OF WANTS"

and when both the parties are not satisfied with the things they are exchanging for!! at further no bartering takes place hence it is termed as "LACK OF CO-INCIDENCE OF WANTS"

tC!!