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When people meet to exchange one type of good for another, they both must want what the other is offering in exchange. Let's say that I have six chickens, and you have three sacks of flour. I really need and want your three sacks of flour, but you do not have a need for six chickens. You want two chickens, and a bushel of apples. This exchange would not be successful because we do not have an equal offering of our wants and needs.

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Hermann Hilpert

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โˆ™ 2021-09-21 04:38:46
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Q: What is double coincidence of want?
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Related questions

What is the problem money solves?

Money solves a lack of double coincidence of want,

How can money overcome the double coincidence of wants?

When you are saving money to buy something you want, you are trying to work really hard just to get that money to buy it with; however if you have the money but you decide not to buy that item, that it how you get over the coincidence of what you want.

Can barter take place without double coincidence of wants?


What is the difference between barter system and double coincidence of wants?

The double coincidence of wants is one of the major part of the Barter System.The two basic terms actually don't have any specific difference.

What is the shortcoming of barter system?

Short comings of barter system: 1.Lack of double coincidence of wants of exchange: Suppose a person possesses wheat and want to exchange it for rice,then he has to find a person who not only have rice but also wants wheats.But it is a rare possibility. 2. Lack of common measure of value: Even if two persons meet by coincidence who want ech others good by coincidence,the problem arises as to the prportion in hich the two goods should be exchanged. 3.Lack of divisibility 4.problem of storing wealth.

A sentence with coincidence?

It was quite a coincidence!

What is another way to say Coincidence?


Who is the saint of coincidence?

There is no saint of coincidence in the Catholic Church.

Is there a biblical meaning behind seeing double and triple numbers?

There is not a Biblical meaning behind seeing double and triple numbers. Although it may not feel like it, it is just a coincidence.

Double coincidence of demand?

For example; the supplier of good A wants good B and the supplier of good B wants good A.

What are problems associated with barter?

A double coincidence of wants meaning both parties wish to exchange what each other needs.

What is necessary to make a trade in a barter economy?

a double coincidence of wants ability's to make what the other wants

Use coincidence in a sentence?

coincidence is a punishment that is made by you choice

When was The Roots of Coincidence created?

The Roots of Coincidence was created in 1972.

When was Chance or Coincidence created?

Chance or Coincidence was created in 1998.

What is coincidence?

Coincidence is when two or more events happen apparently by mere chance. For example, it would be a coincidence if you went on vacation and your neighbor was there.

What conditions must exist for barter to occur?

there must be a double coincidence of wants, and the elements of the desired trade must be of equal value.

Use the word coincidence in a sentence?

Our meeting is quite a happy coincidence.

What is an anthropic coincidence?

An anthropic coincidence is a coincidence in the known physical constraints within this world, the result of which means that life without it would be impossible.

Can you use coincidence in a sentence?

i went to the shop to buy a fell down .it was a coincidence. i went to the shop to buy a fell down .it was a coincidence.

What do Andrew Johnson and Lyndon Johnson have to do with the Kennedy and Lincoln coincidence?

Purely Coincidence.....

Which gate is called coincidence gate?

XNOR gate is called coincidence gate

When was The Braindance Coincidence created?

The Braindance Coincidence was created on 2001-04-02.

When was Coincidence vs Fate created?

Coincidence vs Fate was created in 1993.

What does koinkydink mean?

An apparent coincidence that very likely isn't a coincidence at all.