Question

what is meant by double coincidence of wants

Answer 1

The double coincidence of wants mean that both the parties have to agree to sell and buy each other's commodity i.e. what a person desires to sell is exactly what the other person wishes to buy.

Answer 2

Explanation:

Barter will depend on a double coincidence of wants that occurs when one trader is ready to exchange his/her product for something another trader has to offer.

If a hunter was ready to exchange hides for farmer’s corn, that was a coincidence.  

But if the farmer was also ready to exchange corn for the hunters hides that was a double coincidence.

As long as specialization was limited to say two or three goods, mutually beneficial traders were relatively easy to come and were mutually benefited.