UrbanPro

Location Set your Location

Login Ask & Answer Success Stories Paid Courses Free Classes Tuition & Classes Fees Write a Review All Categories Help Center
Post your Learning Need Signup as a Tutor
✕

Popular Cities

Bangalore

Hyderabad

Delhi

Mumbai

Chennai

Pune

Kolkata

Gurgaon

Ahmedabad

Jaipur

Noida

✕

Take Class 10 Tuition from the Best Tutors

  • Affordable fees
  • 1-1 or Group class
  • Flexible Timings
  • Verified Tutors

Book a Free Demo

Class 10 > Learn Class IX-X Tuition > What is the double coincidence of wants?
✕

Search in

What is the double coincidence of wants?

Asked by Last Modified  

19 Answers

Learn Class IX-X Tuition +1 Social science

Follow 36
Answer

Please enter your answer

Double coincidence of wants occurs when two individuals swap their goods, in exchange for one another. This is also referred to as the 'perfect barter exchange'. In such cases, both the individuals are happy to exchange their good or commodities. For example, if two individuals want to exchange and...
read more

Double coincidence of wants occurs when two individuals swap their goods, in exchange for one another. This is also referred to as the 'perfect barter exchange'. In such cases, both the individuals are happy to exchange their good or commodities. 

 

For example, if two individuals want to exchange and place on a loaf of bread and a bag of apples, then this is known as double coincidence of wants. This results in an efficient transaction between the two individuals. 

 

These types of transactions were practised during the barter economy system (cashless system), where two people had to swap each other's goods or commodities in exchange for one another. This type of system had its own limitations and drawbacks. One of the main limitations was that two people should have goods that they're willing to exchange. 

 

For example, a loaf of bread cannot be exchanged for a bicycle because it would be no good. Then, there is no double coincidence of wants. However, if you can swap a loaf of bread for a bag of apples, then it satisfies the double coincidence of wants. 

read less
Comments
Dislike Bookmark

The double coincidence of wants mean that both the parties have to agree to sell and buy each other's commodity i.e. what a person desires to sell is exactly what the other person wishes to buy.
Comments
Dislike Bookmark

Tutor

In earlier times when there was no currency, people were dependent on barter system(exchange of goods for goods). Now suppose you have rice and you wish to get a shoe then you'll have to find a person who has shoes but also he needs rice. Then only you would be able to exchange the product with him....
read more
In earlier times when there was no currency, people were dependent on barter system(exchange of goods for goods). Now suppose you have rice and you wish to get a shoe then you'll have to find a person who has shoes but also he needs rice. Then only you would be able to exchange the product with him. This is called double coincidence of wants.The double coincidence of wants mean that both the parties have to agree to sell and buy each other's commodity i.e. what a person desires to sell is exactly what the other person wishes to buy.
read less
Comments
Dislike Bookmark

It means when a person require same thing which other people have to give him...and also other person require the same thing as he have.. it's a coincidence that they are having things needed by each other...
Comments
Dislike Bookmark

Professional Tutor with 15 years of experience.

It is an important category of transaction costs that impose severe limitations on economies lacking a medium of exchange (such as money), which have to rely on barter or other in-kind transactions. Coincidence of wants occurs when two people have goods or services that they want to trade with one another....
read more
It is an important category of transaction costs that impose severe limitations on economies lacking a medium of exchange (such as money), which have to rely on barter or other in-kind transactions. Coincidence of wants occurs when two people have goods or services that they want to trade with one another. I have an answer you want, maybe you have a bunch of grapes that I want -- coincidence of needs. But that makes it hard for an economy to run. What if I have an answer and you have nothing I want? Or what if you want to buy rice from someone and you have nothing they want? Then you have to find out what they want and go try to trade for it. So, it is hard to get coincidence of wants for all the things we want to have. But when money is invented, we no longer need coincidence of wants. We can trade money for anything. read less
Comments
Dislike Bookmark
It is a medium of exchange.
Comments
Dislike Bookmark

If u need something. Dat other person hv and he also need d same thing u hv...this is Double Coincidence as I gave an example...rice n wheat
Comments
Dislike Bookmark
In a barter system commodities bare exchanged with commodities of other person without the use of money. But due to this certain problems start to occur which causes both sides to agree to buy and sell there products. For eg. a man wants to buy rice and in order to buy the product he goes to the shopkeeper...
read more

In a barter system commodities bare exchanged with commodities of other person without the use of money. But due to this certain problems start to occur which causes both sides to agree to buy and sell there products. For eg. a man wants to buy rice and in order to buy the product he goes to the shopkeeper but the shopkeeper wants to buy shoes for this the man had to arrange shoes for keeper, this is called double coincidence of wants.

read less
Comments
Dislike Bookmark
Double concidence of wants means goods are directly exchanged between each other or between two or more parties.
Comments
Dislike Bookmark
What a person desires to sell is exactly what the other wishes to buy.
Comments
Dislike Bookmark

View 17 more Answers

Related Questions

what is the role of health in human capital formation?
The role of health in formation of human capital is vital. Unless a population is healthy enough to work and earn, the society will remain backward. Only strong and healthy people can struggle and survive...
Rajmohan
0 0
9
What is buffer stock?
A supply of inputs held as a reserve to safeguard against unforeseen shortages or demands.
Subromita
Define Light?
Light is electromagnetic radiation within a certain portion of the electromagnetic spectrum
Amit
0 0
5
What do you mean by global poverty trends?
Poverty declined substantially in China and some South Asian countries because of rapid economic development. On the other hand, reduction was not as sharp in countries; like Pakistan, Bangladesh, Sri Lanka, etc.
Asheesh
0 0
6
Write the zeroes of the polynomial x2 + 2x + 1.
x2+2x+1 x2+x+x+1 x(x+1)+1(x+1) (x+1)(x+1) x=-1,-1
Mukundan
0 0
7

Now ask question in any of the 1000+ Categories, and get Answers from Tutors and Trainers on UrbanPro.com

Ask a Question

Related Lessons

Solar Power Essay
Solar Power Essay Introduction: The energy from the Sun People seemed to realize the importance of the sun around 30,000 BC. This was when people first started planting crops of wheat. They realized...

Sudhansu Bhushan Roy

0 0
0
GST Updates.
GST Updates: 1) PAN is mandatory for taking registration under GST. PAN will be validated by CBDT. After successful validation, registration will be granted. 2) If a person has a SEZ unit, then he is...
F

FR Prashanth Reddy

Balancing A Chemical Equation
When is an equation called balanced / unbalanced?An equation is said to be balanced when there are equal number of molecules for each element on both sides of the equations.When approaching a chemical...

Winning Edge Academy

3 0
0
Probability
Probability is the possibility of an event to be occurred or happened. Probability is the ratio of the number of favorable events with the total number of events. An event which is definitely...
M

Mohit S.

1 0
0
Oxidative Phosphorylation
Oxidative PhosphorylationIt is the main source of energy of our cell. Takes place in Mitochondria. Movement of protons through inner mitochondrial membrane leads to ATP production. Definition:Oxidative...

Bhakti M.

0 0
0

Recommended Articles

Meet Sandhya R, a B.Sc tutor from Bangalore

Sandhya is a proactive educationalist. She conducts classes for CBSE, PUC, ICSE, I.B. and IGCSE. Having a 6-year experience in teaching, she connects with her students and provides tutoring as per their understanding. She mentors her students personally and strives them to achieve their goals with ease. Being an enthusiastic...

Read full article >

Meet Swati, a Hindi Tutor from Bangalore

Swati is a renowned Hindi tutor with 7 years of experience in teaching. She conducts classes for various students ranging from class 6- class 12 and also BA students. Having pursued her education at Madras University where she did her Masters in Hindi, Swati knows her way around students. She believes that each student...

Read full article >

Meet Raghunandan.G.H, a B. Tech Tutor from...

Raghunandan is a passionate teacher with a decade of teaching experience. Being a skilled trainer with extensive knowledge, he provides high-quality BTech, Class 10 and Class 12 tuition classes. His methods of teaching with real-time examples makes difficult topics simple to understand. He explains every concept in-detail...

Read full article >

Quest Academy - Institute of the month

Quest Academy is a professional Bangalore based NEET and JEE (Main + Advanced) training institute. The academy was incorporated in 2015 to cater to the needs of students, who aim to crack competitive exams by connecting with the best brains around. The institute helps students enhance their skills and capabilities through...

Read full article >

Find Class 10 Tuition near you
Class 10 Tuition in Delhi
Class 10 Tuition in Bangalore
Class 10 Tuition in Hyderabad
Class 10 Tuition in Kolkata
Class 10 Tuition in Mumbai
Class 10 Tuition in Chennai
Class 10 Tuition in Pune
Class 10 Tuition in Noida
Class 10 Tuition in Lucknow
Class 10 Tuition in Jaipur

Looking for Class 10 Tuition ?

Learn from the Best Tutors on UrbanPro

Are you a Tutor or Training Institute?

Join UrbanPro Today to find students near you
X

Looking for Class 10 Tuition Classes?

The best tutors for Class 10 Tuition Classes are on UrbanPro

  • Select the best Tutor
  • Book & Attend a Free Demo
  • Pay and start Learning

Take Class 10 Tuition with the Best Tutors

The best Tutors for Class 10 Tuition Classes are on UrbanPro

This website uses cookies

We use cookies to improve user experience. Choose what cookies you allow us to use. You can read more about our Cookie Policy in our Privacy Policy

Accept All
Decline All

UrbanPro.com is India's largest network of most trusted tutors and institutes. Over 55 lakh students rely on UrbanPro.com, to fulfill their learning requirements across 1,000+ categories. Using UrbanPro.com, parents, and students can compare multiple Tutors and Institutes and choose the one that best suits their requirements. More than 7.5 lakh verified Tutors and Institutes are helping millions of students every day and growing their tutoring business on UrbanPro.com. Whether you are looking for a tutor to learn mathematics, a German language trainer to brush up your German language skills or an institute to upgrade your IT skills, we have got the best selection of Tutors and Training Institutes for you. Read more

ThinkVidya Learning Pvt Ltd © 2010-2024All Rights Reserved