if a housewife has meat and tomatoes, she must find someone who wants meat and...
ECONOMICS
WAEC 2018
if a housewife has meat and tomatoes, she must find someone who wants meat and has tomatoes to give. this concept is described as?
- A. opportunity cost
- B. scale of preference
- C. complementary demand
- D. double of coincidence of wants
Correct Answer: D. double of coincidence of wants
Explanation
This occurs when two people have goods they are both happy to swap in exchange. i.e. a perfect barter exchange. a requirement that must be met before a trade can be made. It specifies that a trader must find another trader who is willing to trade what the first trader wants and at the same time wants what the first trader has.
Post an Explanation Or Report an Error
If you see any wrong question or answer, please leave a comment below and we'll take a look. If you doubt why the selected answer is correct or need additional more details? Please drop a comment or Contact us directly. Your email address will not be published. Required fields are marked *