Question

what is barter system and double coincidence of wants???

Answer 1

barter system is when u get goods for money or money for goods

Answer 2

A barter system is an old method of exchange. Th is system has been used for centuries and long before money was invented. People exchanged services and goods for other services and goods in return. Today, bartering has made a comeback using techniques that are more sophisticated to aid in trading; for instance, the Internet.

Double coincidence of wants means that the both the parties have to agree to sell and buy each commodities. The problem is caused by the improbability of the wants, needs, or events that cause or motivate a transaction occurring at the same time and the same place.