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Analyze the information given below, considering one of the following correct options:
Ramu is a shoe manufacturer and he wants to directly exchange shoes for rice without the use of money. Now he will have to look for a rice growing farmer who not only wants to sell rice but also wants to buy the shoes in exchange. Analyse the information given above, considering one of the following correct option:
- a)Double coincidence of wants
- b)Goods exchange with goods
- c)Goods exchange with money
- d)None of the above
Correct answer is option 'A'. Can you explain this answer?
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Analyze the information given below, considering one of the following...
In a barter economy, an exchange between two people requires a double coincidence of wants, which means that what one person wants to buy is exactly what the other person wants to sell.
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Analyze the information given below, considering one of the following...
Double coincidence of wants
The correct option to analyze the given information is "Double coincidence of wants". Let's break down the information and understand why this option is the most suitable.
1. Introduction:
- Ramu is a shoe manufacturer who wants to exchange his shoes for rice without using money.
- He needs to find a rice-growing farmer who not only wants to sell rice but also wants to buy shoes in exchange.
2. What is double coincidence of wants?
- Double coincidence of wants refers to a situation where two parties have exactly what the other party desires for a direct exchange to take place.
- In simpler terms, it is the coincidence of needs between two individuals for a mutual exchange to occur without the use of money.
3. Analysis of the given information:
- Ramu wants to exchange his shoes for rice directly without involving money.
- However, for this exchange to occur, he needs to find a rice-growing farmer who not only wants to sell rice but also wants to buy shoes.
- Here, we can see that Ramu's desire to exchange shoes coincides with the rice-growing farmer's desire to buy shoes.
4. Why double coincidence of wants is applicable here?
- In this scenario, Ramu and the rice-growing farmer both have specific wants that align perfectly for a direct exchange to happen.
- Ramu wants to get rice, and the rice-growing farmer wants to acquire shoes.
- Both parties have goods that the other party desires, creating a double coincidence of wants.
5. Alternatives:
- Goods exchange with goods: This option is not applicable as it suggests a direct exchange between goods without the consideration of individual wants or needs.
- Goods exchange with money: This option is not applicable as Ramu specifically wants to avoid involving money in the exchange.
6. Conclusion:
- The given information about Ramu's desire to exchange his shoes for rice without money clearly exemplifies the concept of double coincidence of wants.
- Ramu needs to find a rice-growing farmer who not only sells rice but also desires to buy shoes in exchange, creating a perfect alignment of wants for a direct exchange to occur.
The correct option to analyze the given information is "Double coincidence of wants". Let's break down the information and understand why this option is the most suitable.
1. Introduction:
- Ramu is a shoe manufacturer who wants to exchange his shoes for rice without using money.
- He needs to find a rice-growing farmer who not only wants to sell rice but also wants to buy shoes in exchange.
2. What is double coincidence of wants?
- Double coincidence of wants refers to a situation where two parties have exactly what the other party desires for a direct exchange to take place.
- In simpler terms, it is the coincidence of needs between two individuals for a mutual exchange to occur without the use of money.
3. Analysis of the given information:
- Ramu wants to exchange his shoes for rice directly without involving money.
- However, for this exchange to occur, he needs to find a rice-growing farmer who not only wants to sell rice but also wants to buy shoes.
- Here, we can see that Ramu's desire to exchange shoes coincides with the rice-growing farmer's desire to buy shoes.
4. Why double coincidence of wants is applicable here?
- In this scenario, Ramu and the rice-growing farmer both have specific wants that align perfectly for a direct exchange to happen.
- Ramu wants to get rice, and the rice-growing farmer wants to acquire shoes.
- Both parties have goods that the other party desires, creating a double coincidence of wants.
5. Alternatives:
- Goods exchange with goods: This option is not applicable as it suggests a direct exchange between goods without the consideration of individual wants or needs.
- Goods exchange with money: This option is not applicable as Ramu specifically wants to avoid involving money in the exchange.
6. Conclusion:
- The given information about Ramu's desire to exchange his shoes for rice without money clearly exemplifies the concept of double coincidence of wants.
- Ramu needs to find a rice-growing farmer who not only sells rice but also desires to buy shoes in exchange, creating a perfect alignment of wants for a direct exchange to occur.
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Analyze the information given below, considering one of the following correct options:Ramu is a shoe manufacturer and he wants to directly exchange shoes for rice without the use of money. Now he will have to look for a rice growing farmer who not only wants to sell rice but also wants to buy the shoes in exchange. Analyse the information given above, considering one of the following correct option:a)Double coincidence of wantsb)Goods exchange with goodsc)Goods exchange with moneyd)None of the aboveCorrect answer is option 'A'. Can you explain this answer?
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Analyze the information given below, considering one of the following correct options:Ramu is a shoe manufacturer and he wants to directly exchange shoes for rice without the use of money. Now he will have to look for a rice growing farmer who not only wants to sell rice but also wants to buy the shoes in exchange. Analyse the information given above, considering one of the following correct option:a)Double coincidence of wantsb)Goods exchange with goodsc)Goods exchange with moneyd)None of the aboveCorrect answer is option 'A'. Can you explain this answer? for Class 10 2024 is part of Class 10 preparation. The Question and answers have been prepared according to the Class 10 exam syllabus. Information about Analyze the information given below, considering one of the following correct options:Ramu is a shoe manufacturer and he wants to directly exchange shoes for rice without the use of money. Now he will have to look for a rice growing farmer who not only wants to sell rice but also wants to buy the shoes in exchange. Analyse the information given above, considering one of the following correct option:a)Double coincidence of wantsb)Goods exchange with goodsc)Goods exchange with moneyd)None of the aboveCorrect answer is option 'A'. Can you explain this answer? covers all topics & solutions for Class 10 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Analyze the information given below, considering one of the following correct options:Ramu is a shoe manufacturer and he wants to directly exchange shoes for rice without the use of money. Now he will have to look for a rice growing farmer who not only wants to sell rice but also wants to buy the shoes in exchange. Analyse the information given above, considering one of the following correct option:a)Double coincidence of wantsb)Goods exchange with goodsc)Goods exchange with moneyd)None of the aboveCorrect answer is option 'A'. Can you explain this answer?.
Analyze the information given below, considering one of the following correct options:Ramu is a shoe manufacturer and he wants to directly exchange shoes for rice without the use of money. Now he will have to look for a rice growing farmer who not only wants to sell rice but also wants to buy the shoes in exchange. Analyse the information given above, considering one of the following correct option:a)Double coincidence of wantsb)Goods exchange with goodsc)Goods exchange with moneyd)None of the aboveCorrect answer is option 'A'. Can you explain this answer? for Class 10 2024 is part of Class 10 preparation. The Question and answers have been prepared according to the Class 10 exam syllabus. Information about Analyze the information given below, considering one of the following correct options:Ramu is a shoe manufacturer and he wants to directly exchange shoes for rice without the use of money. Now he will have to look for a rice growing farmer who not only wants to sell rice but also wants to buy the shoes in exchange. Analyse the information given above, considering one of the following correct option:a)Double coincidence of wantsb)Goods exchange with goodsc)Goods exchange with moneyd)None of the aboveCorrect answer is option 'A'. Can you explain this answer? covers all topics & solutions for Class 10 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Analyze the information given below, considering one of the following correct options:Ramu is a shoe manufacturer and he wants to directly exchange shoes for rice without the use of money. Now he will have to look for a rice growing farmer who not only wants to sell rice but also wants to buy the shoes in exchange. Analyse the information given above, considering one of the following correct option:a)Double coincidence of wantsb)Goods exchange with goodsc)Goods exchange with moneyd)None of the aboveCorrect answer is option 'A'. Can you explain this answer?.
Solutions for Analyze the information given below, considering one of the following correct options:Ramu is a shoe manufacturer and he wants to directly exchange shoes for rice without the use of money. Now he will have to look for a rice growing farmer who not only wants to sell rice but also wants to buy the shoes in exchange. Analyse the information given above, considering one of the following correct option:a)Double coincidence of wantsb)Goods exchange with goodsc)Goods exchange with moneyd)None of the aboveCorrect answer is option 'A'. Can you explain this answer? in English & in Hindi are available as part of our courses for Class 10.
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ample number of questions to practice Analyze the information given below, considering one of the following correct options:Ramu is a shoe manufacturer and he wants to directly exchange shoes for rice without the use of money. Now he will have to look for a rice growing farmer who not only wants to sell rice but also wants to buy the shoes in exchange. Analyse the information given above, considering one of the following correct option:a)Double coincidence of wantsb)Goods exchange with goodsc)Goods exchange with moneyd)None of the aboveCorrect answer is option 'A'. Can you explain this answer? tests, examples and also practice Class 10 tests.
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