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:

Poison

A substance that is capable of causing illness or death to living organisms when introduced or absorbed.

Dynamic Equilibrium

A state of balance in a system where opposing processes occur at equal rates, maintaining a constant condition.

Reverse Reaction

A reverse reaction is a chemical reaction that occurs in the opposite direction of the forward reaction, resulting in the conversion of the reaction products back into the original reactants.

Forward Reaction

A chemical reaction that proceeds in the direction of forming products from reactants, as initially written in a chemical equation.