Question

What do you mean by double coincidence of want .explain the barter system?

Answer 1

Solution: when the medium of purchase and purchase item is the goods, it is known as the double coincidence of the wants.

This terminology is mainly associated with the barter system of exchange.

It is the exchange system in which goods were bought for goods.

This was mainly the part of traditional times when money was not the exchange medium.

Answer 2

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