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Which of the following is related to barter system of exchange ?
Double coincidence of wants
Common unit of value
Limited exchange
Both (a) and (c)
- Option 1: Double coincidence of wants
- This is directly related to the barter system.
- Both parties involved need to have what the other wants.
- A trade happens only when wants are mutually satisfactory.
- Correct
- Option 2: Common unit of value
- Not related to barter.
- Relates to money systems, where there's a standard measure of value.
- Option 3: Limited exchange
- Barter is often limited because of the need for a double coincidence.
- Challenging for large or complex trades.
- Option 4: Both (a) and (c)
- Both double coincidence of wants and limited exchange describe features of barter.
- Correct description of barter.
By: santosh ProfileResourcesReport error
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