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Explain double coincidence of want.

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Explain double coincidence of want.

Posted by Devash Sharma 8 years ago

CBSE > Class 10 > Social Science

1 answers

Shruti Gupta 8 years ago

Coincidence of wants is the reason that money is so important in an economic system. Or rather, I should say money is important because it is rare to have a coincidence of wants. Coincidence of wants occurs when two people have goods or services that they want to trade with one another.

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