Question

what is the meaning of barter system ? why double coincidence of wants is an essential feature of barter system ?​

Answer 1

Answer:

Double coincidence of wants is one of the feature of barter system which refers to a situation wherein what a person wishes to sell is exactly the same as that the other person wishes to buy. This is a concept in the barter system in which goods are exchanged directly without the use of money.

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Answer 2

Answer:

Explanation:

Barter system is define as the system where two parties buyer and seller exchange goods and services without the use of money.

Double coincidence implies when both the parties - vender and buyer - are consent to sell and get each other's wares. It infers that what an individual cravings to sell is precisely exact thing different wishes to purchase. No cash is utilized in such a game plan. In this way it is a fundamental element of bargain framework.