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One drawback of barter exchange is
  • a)
    Lack of goods
  • b)
    Lack of trust
  • c)
    Lack of double coincidence of wants
  • d)
    Lack of coincidence of wants
Correct answer is option 'C'. Can you explain this answer?
Most Upvoted Answer
One drawback of barter exchange isa)Lack of goodsb)Lack of trustc)Lack...
The double coincidence of wants mean that both the parties have to agree to sell and buy each other's commodity i.e. what a person desires to sell is exactly what the other person wishes to buy. In a barter system commodities bare exchanged with commodities of other person without the use of money.
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Community Answer
One drawback of barter exchange isa)Lack of goodsb)Lack of trustc)Lack...
Double coincidence of wants means that the both the parties have to agree to sell and buy each commodities. The problem is caused by the improbability of the wants, needs, or events that cause or motivate a transaction occurring at the same time and the same place.
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One drawback of barter exchange isa)Lack of goodsb)Lack of trustc)Lack of double coincidence of wantsd)Lack of coincidence of wantsCorrect answer is option 'C'. Can you explain this answer?
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