Take Class 10 Tuition from the Best Tutors

• Affordable fees
• 1-1 or Group class
• Flexible Timings
• Verified Tutors

Search in

# 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 wantsB good exchange with moneyC good exchange with goodsD none of these

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 →...

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

Spanish language teacher with 2 years of experience

A

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

Answer: C) good exchange with goods

Igcse/icse/cbse maths teacher class 6-10 with 7yrs experience

double coincidence of wants

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

A) A double co incidence of wants.

Tutor

A

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

Yoga is a Lifestyle - Make it your own!

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

A

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

Related Questions

20/03/2020
7
09/10/2016
13
Arunsundar asked What is barter system?
03/10/2016
72
13/10/2016
6

Now ask question in any of the 1000+ Categories, and get Answers from Tutors and Trainers on UrbanPro.com

Related Lessons

Best way to learn social sciences
In effort to learn social sciences the biggest hurdle comes in between is the dates and the works of some people who wasn't that known to us before they appeared in our syllabus, So the best way should...

Shubham Mehra | 05/11/2016

Outcomes of Democracy:Class 10: Social Science : Civics
Democracy is a better form of government when compared with dictatorship or any other alternative because of its below mentioned features : 1. Promotes equality among citizens;2. Enhances the dignity...

Isha | 29/12/2016

Find Class 10 Tuition near you

Looking for Class 10 Tuition ?

Learn from the Best Tutors on UrbanPro

Are you a Tutor or Training Institute?

Join UrbanPro Today to find students near you
X

### Looking for Class 10 Tuition Classes?

The best tutors for Class 10 Tuition Classes are on UrbanPro

• Select the best Tutor
• Book & Attend a Free Demo
• Pay and start Learning

### Take Class 10 Tuition with the Best Tutors

The best Tutors for Class 10 Tuition Classes are on UrbanPro