Which of the following features is essential to a barter system?

Fiat money

No worries! We‘ve got your back. Try BYJU‘S free classes today!

A market

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Double coincidence of wants

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

Perfect information

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Open in App

Solution

The correct option is C
Double coincidence of wants

A barter system necessarily requires double coincidence of wants.

Suggest Corrections

Similar questions

Explain the problem of double coincidence of wants faced under barter system and how has money solved it.

Group A	Group B
1. Near Money	a. Sea Shells
2. Secondary function of money	b. Double coincidence of wants
3. Commodity Money	c. Fiat money
4. Barter	d. Measure of value
5. Legal tender	e. Bills of exchange
	f. Standard of deferred payments
	g. Metallic money

Join BYJU'S Learning Program