The double coincidence of wants is an essential feature in the ____ system.

see full answer

Start JEE / NEET / Foundation preparation at rupees 99/day !!

21% of IItians & 23% of AIIMS delhi doctors are from Sri Chaitanya institute !!

An Intiative by Sri Chaitanya

(Unlock A.I Detailed Solution for FREE)

Ready to Test Your Skills?

Check your Performance Today with our Free Mock Test used by Toppers!

Take Free Test

Detailed Solution

The double coincidence of wants is an essential feature in the barter system of the economy.
The double coincidence of wants is a situation where the good that a person is willing to sell is exactly what the other person is willing to buy. In other words, both parties to a trade have to agree to buy and sell each other’s commodities. It was nearly impossible to achieve a double coincidence of wants in every trade transaction. Hence, the lack of double coincidence of wants was a huge downside to the barter system.

Watch 3-min video & get full concept clarity

tricks from toppers of Infinity Learn

Result Producing online coaching for JEE/NEET of south India

Largest All India Test Series for JEE/NEET

Best Books for IIT JEE

Best Books for NEET

🔥 Start Your JEE/NEET Prep at Just ₹1999 / month - Limited Offer! Check Now!

Get Expert Academic Guidance – Connect with a Counselor Today!

Result Producing online coaching for JEE/NEET of south India

Largest All India Test Series for JEE/NEET

Best Books for IIT JEE

Best Books for NEET