In a world without money, life would be inconvenient

Economics Dec 16, 2020

In a world without money, life would be inconvenient. Suppose Professor Franz would like to drink some wine, she would have to find a bartender that is willing to sell her a glass of white wine in exchange of an economics lesson. This is called consequential exchange of goods and services. double coincidence of want laissez faire capitalism a universal measurement of value.

Expert Solution

Double coincidence of want is an economic phenomena where two parties each hold an item which another wants,so they exchange these items directly without any monetary medium.

Question 8.Ans:- double coincidence of want.

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