A Double Coincidence of Wants

question 1

Multiple Choice

A double coincidence of wants

• A)is required when there is no item in an economy that is widely accepted in exchange for goods and services.
• B)is required in an economy that relies on barter.
• C)is a hindrance to the allocation of resources when it is required for trade.
• D)All of the above are correct.

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Definitions:

Broad Approach

A wide-ranging or comprehensive method or perspective that encompasses a variety of factors, elements, or principles.

Interdisciplinary Orientation

An approach that integrates concepts, ideas, and methods from different disciplines to solve complex problems.

Kurt Lewin

A psychologist known for founding social psychology and for developing the theory of change management, group dynamics, and action research.

Applied Social Psychology

An area of psychology that utilizes social psychological principles to address and solve real-world problems and improve quality of life.