A can exchange goods with B only when A has what B wants and B has what A wants. This is referred to as ____ under Barter System
A can exchange goods with B only when A has what B wants and B has what A wants. This is referred to as ____ under Barter System.
(a) Standard of Deferred payments
(b) Common Measure of value
(c) Double Coincidence of wants
(d) None of these
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Ans – (c)
Explanation:-
Double coincidence of wants refers to a situation where both buyers and seller are ready to exchange each other’s goods.
For example, A can exchange goods with B only when A has what B wants and B has what A wants.
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