Examlex
Regarding the two-factor theory, which one of the following statements is true?
Planned Economy
An economic system in which the government or a central authority makes all decisions regarding the production and distribution of goods and services.
Barter Economy
An economic system where goods and services are exchanged directly for other goods and services without the use of money.
Coincidence of Wants
A situation in a barter system where two parties each hold an item the other wants, enabling a direct exchange without money.
Medium of Exchange
A mediating tool or mechanism that assists in the buying, selling, or exchanging of items among individuals.
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