what is money and its properties?
what is double coincident ?
what is bater system
a. Money is a medium of exchange in the form of notes and coins. It is accepted as payment for goods and services.
Properties of money are durability, mobility, uniformity, divisibility, acceptability etc.
b. Double coincidence of wants is situation in a barter system where the seller offers to sell something which the buyer is willing to buy. It is in this way transaction was carried out in the barter system of economy.
c. Barter system is a system of exchange of goods and services in return for other goods and services. Here, the commodities are used as a medium of exchange.
Properties of money are durability, mobility, uniformity, divisibility, acceptability etc.
b. Double coincidence of wants is situation in a barter system where the seller offers to sell something which the buyer is willing to buy. It is in this way transaction was carried out in the barter system of economy.
c. Barter system is a system of exchange of goods and services in return for other goods and services. Here, the commodities are used as a medium of exchange.