Question

What is double coincidence and give explain with an example?

Answer 1

Double coincidence of wants was a factor during the barter system in which the both the parties have agreed to sell and buy each commodities.

For example,

A person wants to buy shoes in exchange of wheat. At the same time another person wants to buy wheat in exchange of shoes.

When both of them agree to exchange their commodities , it is called double coincidence of wants.

Hope this helps you ♥️

Answer 2

The coincidence of wants (often known as double coincidence of wants) lacking a medium of exchange (such as money), which have to rely on barter or other in-kind transactions. Double coincidence of wants means that the both the parties have to agree to sell and buy each commodities. (copied)