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in Economics by (66.1k points)

How does money overcome the main problem of exchange in the barter system. Explain.

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Money has solved the problem of double coincidence of wants by serving as medium of exchange. Money helps in buying and selling of goods. Goods are exchanged for money and this money can be used for buying any other good that we need. Now a person can sell his goods to another person for money and then he can use that money to buy the goods he wants from other. So money has made the exchange of goods easy.

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