Question

what do you understand by double coincidence of wants​

Answer 1

Explanation:

now a days we use money as a means of exhange of goods and services,

but earlier barter system was used ,

in which the goods are buyed of exchanged for the things we want,

this created problems too.

for ex:

if a person want ti buy clothes , then he has to give anything which costs equivalent to the clothes to the shopkeeper.......in exchange of clothes....

but it creates problem sometimes ,

if that person has shoes and want to buys cloth in exchange of it but the shopkeeper want grains in exchange of clothes then both shopkeeper and customers face problem .......

this is called double co incidence of wants .

so to end such problem , notes and coins ( currencies) are there which acts as a medium of exchange of goods.....and acceptable to all

Answer 2

Answer:

In double coincidence of wants means that tha both parties have to agree to sell and buy the product from each other without the use of money.