Examples describe a double coincidence of wants:
A baker, who is interested in acquiring meat, meets a butcher interested in acquiring bread.
Explanation
- When two producers simultaneously produce the same consumption good because they both want it, this is known as a double coincidence of wants.
- In this instance, the two producers can engage in a barter exchange (good for good) without the use of money as a medium.
- Goods are directly exchanged without the use of money.
- For example, a person has rice but is in need of wheat, and other has wheat but he is in need of rice.
- Then they will exchange their goods.
- This exchange is known as a double coincidence of wants.
What is a double coincidence of wants in business?
- The coincidence of wants (often known as double coincidence of wants) is an economic phenomenon where two parties each hold an item that the other wants, so they exchange these items directly without any monetary medium. Within economics, this has often been presented as the foundation of a bartering economy.
To learn more about Double coincidence, refer
to https://brainly.com/question/25922327
#SPJ4