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How does money elliminate the need …

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How does money elliminate the need for double coincidence of wants

Posted by Khushi Nadgali 5 years, 4 months ago

CBSE > Class 10 > Social Science

1 answers

Yogita Ingle 5 years, 4 months ago

Money eliminates this complex and tedious situation by representing an exchange medium which can be utilised for all commodities.

‘Double Coincidence of Wants’ is an important aspect of the barter system, wherein commodities are exchanged with each other without using money. Nevertheless, in an economy utilising money as an exchange medium, it does away with this by offering the essential intermediary step.

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CBSE > Class 10 > Social Science