Q. 55.0( 1 Vote )

Identify the cond

Answer :

The situation mentioned in case of a barter economy is called Double Coincidence of Wants.


NOTE - Money is the standard of almost every transaction in the 20th century. However, before the use of money, people used to engage in the double coincidence of wants wherein they used to buy and sell in terms of commodities such as giving of rice in return for shoes. But this practice always required a coincidence in the needs of both the parties.


Rate this question :

How useful is this solution?
We strive to provide quality solutions. Please rate us to serve you better.
Try our Mini CourseMaster Important Topics in 7 DaysLearn from IITians, NITians, Doctors & Academic Experts
Dedicated counsellor for each student
24X7 Doubt Resolution
Daily Report Card
Detailed Performance Evaluation
caricature
view all courses
RELATED QUESTIONS :

Why is money acceSocial Science - Board Papers