Home › ICSE Class 10 › Social Science › c10moneycredit › In a barter system, an exchange needs a double c…
In a barter system, an exchange needs a double coincidence of:
AWants
BWages
CWares
DWealth
Answer & Solution
Correct answer: A. Wants
1. Both parties must agree to sell and buy.
2. What one wants to sell must be what the other wants.
3. That is a double coincidence of wants.
_Source: NCERT Class 10 Social Science, 'Understanding Economic Development', Ch 3 'Money and Credit'_
Related questions
Banks lend to poor women in SHGs even though they have no:Interest charged by a Self Help Group is compared with that of the:Self Help Groups are formed particularly among rural:A typical Self Help Group has how many members?What share of rich urban households' loans is from informal sources?What share of loans to poor urban households comes from informal sources?Who supervises the credit activities of informal lenders?Who supervises the functioning of formal sources of loans?