Double coincidence of wants is an important phenomenon in:

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Barter exchange

Monetary exchange

Official exchange

None of these

answer is A.

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Detailed Solution

Double coincidence of wants is an important phenomenon in barter exchange.
In a barter system, people exchange commodities they want to sell for those they want to purchase. In simple words, we can say that goods sold by an individual should be the goods another wants to purchase. It is difficult to find a suitable person with both the qualities of an eligible buyer and an eligible seller. The double coincidence of wants lays the foundation of the barter system of exchange. To overcome this situation, the government introduced a currency for the nation.

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