Question

What elements the need for double coincidence of wants?

Answer 1

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• Double coincidence of wants means that both of the parties have to agree to sell and buy each commodity. Under this system, problems arise through the improbability of the wants, needs, or events that cause or motivate a transaction occurring at the same time and the same place.

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Answer 2

Explanation:

If any uniform measure (like money) is not available for the exchange of goods then we have to find such a person who also needs what we are willing to give and also wants to give the thing they we need. This is a double coincidence of wants.

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