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[[1]] is the situation, when both the parties in a barter economy have to agree to sell and buy each other’s commodities.

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Detailed Solution

Double coincidence of wants is the situation, when both the parties in a barter economy have to agree to sell and buy each other’s commodities. To sell and buy each other's goods, both parties—the vendor and the buyer—must agree. The direct exchange of goods takes place without the need of money. For instance, one individual may have rice but require wheat, while another may have wheat but require rice. After that, they will trade items. The term "double coincidence of wants" refers to this encounter. In a vast economy, it is impossible for wants to coincide twice.

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[[1]] is the situation, when both the parties in a barter economy have to agree to sell and buy each other’s commodities.