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Ramu is a shoe manufacturer and he wants to directly exchange shoes for rice without the use of money. Now he will have to look for a rice growing farmer who not only wants to sell rice but also wants to buy the shoes in exchange.
Analyse the information given above, considering one of the following correct option.

 

A double coincidence of wants

B good exchange with money

C good exchange with goods

D none of these

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Tuition/Class IX-X Tuition/Social science

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In this situation, any exchange is yet to happen. But, we have found a coincidence where person A (Ramu) wants to sell shoes and needs rice and person B (farmer) who in turn wants to sell rice and needs shoes. This situation is defined as Double Coincidence of Wants (Option A) RAMU → Shoes →... read more

In this situation, any exchange is yet to happen. But, we have found a coincidence where person A (Ramu) wants to sell shoes and needs rice and person B (farmer) who in turn wants to sell rice and needs shoes. This situation is defined as Double Coincidence of Wants (Option A)
 RAMU  → Shoes → Farmer
 RAMU ← Rice ← Farmer

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1 Comments

Data Analytics & Advanced Statistics Tutor with 18 years of experience in teaching

Answer: C) good exchange with goods
1 Comments

M.Tech IT preparing for civil services. 4 years teaching experience. 95+ score by students in boards

A) A double co incidence of wants.
Comments

Spanish language teacher with 2 years of experience

A
2 Comments

Tutor

A
Comments

Imagine Greatness. Learn to love to learn

Person A (Ramu) wants to sell shoes and needs rice and person B (farmer) who in turn wants to sell rice and needs shoes. This situation is defined as Double Coincidence of Wants (Option A) RAMU → Shoes → Farmer RAMU ← Rice ← Farmer
Comments

Yoga is a Lifestyle - Make it your own!

It's option C. Good exchange with good. That is the actual transaction that will occur.
1 Comments

A
Comments

A. Here double coincidence of wants can be seen which existed in barter exchange system earlier. It is the topic of class 10th RBSE, ECONOMICS
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Experienced & certified Digital Marketer last more than 10 years

Answer is good exchange with goods
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