The requirement of a "double coincidence of wants" is the chief __________ of the __________ exchange system.

Question

Quizplus · Accepted Answer

The "double coincidence of wants" is a major disadvantage of the barter system. It refers to the fact that for a barter transaction to occur, both parties need to have something that the other wants, at the same time and place. This requirement can make bartering inefficient and time-consuming, which is why societies eventually moved towards using monetary systems as a more efficient medium of exchange. Therefore, the correct choice is (C) disadvantage; barter.

The Requirement of a "Double Coincidence of Wants" Is the Chief