Answer :

Double coincidence of wants means that the person who wants to buy a good A and sell good B can buy it from another person who wanted to buy good B in exchange for good A only.

Explanation: The double coincidence of wants exists in the barter system and it is solved by the use of a standard medium like money.


Rate this question :

How useful is this solution?
We strive to provide quality solutions. Please rate us to serve you better.
Related Videos
All GrammarAll GrammarAll Grammar41 mins
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