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Explain double coincidence of wants with the help of examples? |
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Answer» The situation when both parties r agreed to exchange their goods.For example. If I want to buy a pair of shoes and having wheat to exchange, then if the shoe maker is agreed to exchange his pair of shoes in return of shoes. This is the situation of double coincidence of wants. 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. |
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