Double Coincidence of Wants Occurs When

question 92

Multiple Choice

Double coincidence of wants occurs when:

• A) one person demands the goods offered for sale by another person.
• B) people pay double the value for goods and services.
• C) the value added is counted at each stage of production of goods.
• D) the wants are double the amount of available resources.

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Definitions:

Chronological Order

The arrangement of events, numbers, or actions in the sequence that they occurred or were performed.

Debit Normal

Refers to accounts that are increased with a debit transaction and have a natural debit balance, such as assets, expenses, and losses.

Credit Normal

The usual terms or conditions under which credit is extended to customers, including payment due dates and interest rates.

Sales Slip

A document that records the details of a transaction made between a buyer and a seller.