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Barter System

What is the t...

Question

What is the term given to a situation when a person desires to sell exactly what the other wishes to buy?

A

Market

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B

Equilibrium

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C

Economic activity

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D

Double coincidence of wants

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Solution

The correct option is C Double coincidence of wants

When two parties agree to sell and buy each other's commodities, this situation is known as 'double coincidence of wants'. That is, what a person desires to sell is exactly what the other wishes to buy. Such a situation is a feature of the barter system.

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