Question on: WAEC Economics - 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
Ask EduPadi AI for a detailed answer
Correct Option: D
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.
Add your answer
Please share this, thanks!
No responses