What is double coincidence of wants?Explain with the help of exmaples.
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double coincidence of wants men's both require each others thing and they sell it to each other
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When both the parties (the seller and the buyer) have to agree to sell and buy each others' commodities, this situation is called DOUBLE COINCIDENCE OF BONDS.
For example - Suppose their is a shoemaker and he wants to sell his shoes but in return he needs some wheat. For this purpose he has to search for such a person who is in a need of shoes and can sell him wheat also. This makes bargaining difficult.
For example - Suppose their is a shoemaker and he wants to sell his shoes but in return he needs some wheat. For this purpose he has to search for such a person who is in a need of shoes and can sell him wheat also. This makes bargaining difficult.
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