What is the inherent problem in the double coincidence of wants?

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Both parties must agree to sell and buy each other’s commodities

Both parties must get money in return

Both 1) and 2)

None of the above

answer is A.

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Detailed Solution

Both parties must agree to sell and buy each other’s commodities is the inherent problem in the double coincidence of wants.
The major drawback of this system is the exchange is not possible without the double coincidence of wants. Both parties must agree to sell and buy each other’s commodities. It was later eliminated by money, which is widely accepted. If both parties agree to buy and sell each other things respectively is known as a double coincidence of wants. It majorly comes in the barter system, which involves the exchange of two goods with each other. For instance, farmers are exchanging wheat for milk and vice versa. In this situation, the farmer and the person who sells milk are both in need of each other’s products.

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