Asked by
Mazen Alowdi
on Nov 11, 2024
Verified
Which of the following best illustrates the double coincidence of wants?
A) Both Tom and Jerry would like to purchase the same good.
B) Tom has something he's willing to trade with Jerry;Jerry has something he's not willing to trade with Tom.
C) Tom and Jerry have very similar tastes;hence,Tom's wants coincide with Jerry's.
D) Tom has something he's willing to trade with Jerry,who wants it;Jerry has something he's willing to trade with Tom,who wants it.
E) Tom has something Jerry wants;Jerry has nothing Tom wants.
Double Coincidence
A situation in a barter system where two parties each hold an item the other wants, necessitating an exact match to complete an exchange.
Trade
The exchange of goods, services, or both between countries or individuals, allowing for the specialization and efficiency benefits.
- Familiarize yourself with the idea of dual coincidence of wants within bartering systems.
Verified Answer
SR
Learning Objectives
- Familiarize yourself with the idea of dual coincidence of wants within bartering systems.