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What is the difference between barter system and double coincidence of wants?
Wiki User
∙ 12y ago
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.
Wiki User
∙ 12y ago
Wiki User
∙ 13y agono
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What conditions must prevail for barter to take place?
poor economics development,limited exchange and low production are 3 factors needed fr barter
What is trade by barter?
Trade by barter is a system of trade whereby commodities are exchanged or traded upon without the use of medium of exchange i.e money. it is cumbersome as it entails double coincidence of wants.
What is the problem with the barter system?
Demerits of the barter system include the lack of common unit value and lack of system for storage of value or purchasing power. It is inefficient and has a lack of double coincidence of wants.
Which is the main problem with the barter system of exchange?
A double coincidence of wants meaning both parties wish to exchange what each other needs.
Barter economy is more efficient than present money economy?
No. A barter economy is less efficient than the current system. A barter system relies on individuals having a double coincidence of wants where each person wants the exact opposite thing that someone else is willing to sell at that particular time. So, people who needed certain things that weren't on the market were out of luck. Also, the barter economy has a flaw in the indivisibility of products. This means certain large expensive items such as tractors were not able to be divided equally to make necessary exchanges for smaller ticket items. The present money economy makes trade more efficient.
What conditions must prevail for barter to take place?
poor economics development,limited exchange and low production are 3 factors needed fr barter
What is trade by barter?
Trade by barter is a system of trade whereby commodities are exchanged or traded upon without the use of medium of exchange i.e money. it is cumbersome as it entails double coincidence of wants.
What is the problem with the barter system?
Demerits of the barter system include the lack of common unit value and lack of system for storage of value or purchasing power. It is inefficient and has a lack of double coincidence of wants.
Which is the main problem with the barter system of exchange?
A double coincidence of wants meaning both parties wish to exchange what each other needs.
What is the difference between a double wide and a manufactured home.?
The difference between a double wide and a manufactured home is that the manufactured home is put on a foundation.
What is the Difference between double room and a double standard room?
The difference between a double room and a double standard room is the double often contains two beds. A standard double has just one bed and is designed for two people.
What is the difference between twice and double in math?
I don't think there is a difference.
Difference between herringbone gears and double helical gears?
they have no difference.. they are same
What is the difference of m and n?
the double of n is m. is the difference between m and n
What is the difference between alpha carotene and beta carotene?
The difference is the position of the double bond
Barter economy is more efficient than present money economy?
No. A barter economy is less efficient than the current system. A barter system relies on individuals having a double coincidence of wants where each person wants the exact opposite thing that someone else is willing to sell at that particular time. So, people who needed certain things that weren't on the market were out of luck. Also, the barter economy has a flaw in the indivisibility of products. This means certain large expensive items such as tractors were not able to be divided equally to make necessary exchanges for smaller ticket items. The present money economy makes trade more efficient.
What is different between double layer media and a single layer media?
difference between single layer and double winding
