Barter System and Double Coincidence of Wants
Barter system refers to exchange of goods for goods, which can only work when there is a double coincidence of wants between buyers and sellers. This leads to trading costs and makes exchange through…
Barter system refers to exchange of goods for goods, which can only work when there is a double coincidence of wants between buyers and sellers. This leads to trading costs and makes exchange through…
Barter system involves various difficulties and inconveniences such as the requirement of double coincidence of wants and absence of common measure of value. These difficulties create problems and wa…
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