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Chapter 27: Q.9 (page 662)

What is the double coincidence of wants?

Short Answer

Expert verified

Double-coincidence of wants is a circumstance in which one of the two persons wants something or offers a service that the other person can easily provide.

Step by step solution

01

Concept of the double coincidence of wants.

It is a situation in which each of the two people desires things or services that the other person can readily offer.

02

Explanation of solution.

This case exemplifies the double coincidence of desires. If Mr.Qwants a pair of shoes, he should find another person, say Mr.R, who has a similar pair in the same size, and Mr.Rmust be willing to give those shoes to Mr.Qin exchange for desired services for a period of time so that Mr.Qcan wear them with complete contentment. Mr.Qthen provides Mr.Rwith the desired service in order to meet their needs and satisfy him. It is extremely tough to organise this type of business.

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