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Why is double coincidence of wants essential in barter system ? |
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Answer» ble 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. ... In a BARTER system commodities bare EXCHANGED with commodities of other person without the use of money.In Barter system only GOODS are exchanged, people will exchange goods only if it's useful to them.In double coincidence of wants both parties agree to exchange goods so barter system is successful.This is why double coincidence of wants is essential in barter system.hope it HELPS friend ^_^ |
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