Question

what is the problem of lack of double coincidence in barter system?

Answer 1

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 both of the parties have to agree to sell and buy each commodity.

Answer 2

lack of double coincidence exists in barter exchange. it refers to the situation where the mutual wants of the buyer and seller are less likely to be fulfilled simultaneously. if the buyer's wants can be fulfilled by exchange but cannot provide what the seller wants, the exchange is unlikely to be happened

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