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Identify the condition when both the parties in a barter economy have to agree to sell and buy each other commodities? What is it called?
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Identify the condition when both the parties in a barter economy have ...
The condition when both the parties in a barter economy have to agree to sell and buy each other's commodities is called double coincidence of wants
Double coincidence of wants is essential feature of the barter system. Double coincidence of wants means what a person wants to sell is exactly what the other person wishes is to buy.
Double coincidence of wants happens when a person having a surplus of one commodity should be able to find another person who wants the commodity as well as it has something acceptable to offer in exchange.
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Identify the condition when both the parties in a barter economy have ...
The condition when both parties in a barter economy have to agree to sell and buy each other commodities is called a double coincidence of wants.
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Identify the condition when both the parties in a barter economy have to agree to sell and buy each other commodities? What is it called? Related: Money and Credit : NCERT In-text & CBSE Sample Questions for Class 8 2024 is part of Class 8 preparation. The Question and answers have been prepared according to the Class 8 exam syllabus. Information about Identify the condition when both the parties in a barter economy have to agree to sell and buy each other commodities? What is it called? Related: Money and Credit : NCERT In-text & CBSE Sample Questions covers all topics & solutions for Class 8 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Identify the condition when both the parties in a barter economy have to agree to sell and buy each other commodities? What is it called? Related: Money and Credit : NCERT In-text & CBSE Sample Questions.
Identify the condition when both the parties in a barter economy have to agree to sell and buy each other commodities? What is it called? Related: Money and Credit : NCERT In-text & CBSE Sample Questions for Class 8 2024 is part of Class 8 preparation. The Question and answers have been prepared according to the Class 8 exam syllabus. Information about Identify the condition when both the parties in a barter economy have to agree to sell and buy each other commodities? What is it called? Related: Money and Credit : NCERT In-text & CBSE Sample Questions covers all topics & solutions for Class 8 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Identify the condition when both the parties in a barter economy have to agree to sell and buy each other commodities? What is it called? Related: Money and Credit : NCERT In-text & CBSE Sample Questions.
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