Single Answer MCQ
Q-00045470
What is meant by 'double coincidence of wants' in a barter system?
1
Both parties must want what the other has
2
Trade can occur without any actual goods
3
One party can always trade
4
Each item has a set value
Answer and Solution
Answer
A. Both parties must want what the other has
Solution:
In a barter system, double coincidence of wants refers to the situation where both parties involved in a trade must want what the other offers before a transaction can occur.
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