Question

What is the double coincidence of wants?

Short answer

Double-coincidence of wants is a circumstance in which one of the two persons wants something or offers a service that the other person can easily provide.

Step-by-step solution

Concept of the double coincidence of wants.

It is a situation in which each of the two people desires things or services that the other person can readily offer.

Explanation of solution.

This case exemplifies the double coincidence of desires. If $Mr.Q$wants a pair of shoes, he should find another person, say $Mr.R$, who has a similar pair in the same size, and $Mr.R$must be willing to give those shoes to $Mr.Q$in exchange for desired services for a period of time so that $Mr.Q$can wear them with complete contentment. $Mr.Q$then provides $Mr.R$with the desired service in order to meet their needs and satisfy him. It is extremely tough to organise this type of business.