The Problem of a Double Coincidence of Wants Refers to

question 83

Multiple Choice

The problem of a double coincidence of wants refers to

• A)the insatiability of wants in a free market economy.
• B)poorly-managed companies producing what consumers want only by coincidence.
• C)the necessity in a barter system of each trading partner wanting what the other has to trade.
• D)the likelihood that needs will not be the same as wants.

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Definitions:

M-commerce

Mobile commerce, or the buying and selling of goods and services through wireless handheld devices such as smartphones and tablets.

Smartphone

A mobile phone that incorporates advanced features like internet access, email capability, and the ability to run software applications.

Purchases

Transactions where buyers acquire goods or services from sellers in exchange for money or other compensation.

Share Of Wallet

The proportion of a customer's total spending that is captured by a business, indicating the customer's loyalty and the effectiveness of the company's marketing.