Introduction of___________ eliminated the need for double coincidence of wants.

paper

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gold

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computer

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money

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Solution

The correct option is D money
In the olden times, People exchanged services and goods for other services and goods in return.
The problem of double coincidence of wants arise due to the above mentioned exchange of goods system.
The problem was solved with the introduction of money..
Money is used medium of exchange and for storage of value.
The correct option is D.

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Similar questions

Reena a bought a house. While valuing her house, her grandmother valued it in terms of buffalo and carts.

What is the problem that is being faced in the valuation process?

(a) Lack of double coincidence of wants

(b) Lack of store of value

(d) Lack of standard for deferred payment

Double coincidence of wants is a typical feature of monetary system of exchange. State true or false, and explain why.

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