What Is Meant by the Phrase "Double Coincidence of Wants

question 16

Essay

What is meant by the phrase "double coincidence of wants" in a barter economy?

---

Definitions:

Vertical Integration

A strategy where a company expands its business operations into different steps on the same production path, such as when a manufacturer owns its supplier and/or distributor.

Waking Hours

describes the period of the day when an individual is awake and engaged in activities, excluding sleep.

Mass Media

Various mediums of communication, such as television, newspapers, radio, and the internet, that reach large audiences and influence public opinion and information dissemination.

Core Values

Fundamental beliefs or guiding principles that dictate behavior and can help people understand the difference between right and wrong.