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If A Housewife Has Meat And Tomatoes, She Must Find Someone Who Wants Meat And Has Tomatoes To Give. This Concept Is Described As? - Erudites Academy

If a housewife has meat and tomatoes, she must find someone who wants meat and has tomatoes to give. this concept is described as?

by | Nov 6 | Economics WAEC | 0 comments

A. opportunity cost
B. scale of preference
C. complementary demand
D. double of coincidence of wants

Correct Answer: Option D

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.

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