Finding Two Parties to a Trade,each of Whom Has Something

question 23

Multiple Choice

Finding two parties to a trade,each of whom has something for which the other wishes to trade,is called a

• A) unit of account.
• B) store of value.
• C) medium of exchange.
• D) double coincidence of wants.
• E) diversification of interests.

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Definitions:

Collection Agency

A business that pursues payments on debts owed by individuals or businesses.

Business Practices Act

Legislation aimed at preventing unfair or deceptive business practices and promoting fair competition.

Breach

Breach is the violation or non-fulfillment of a legal obligation, agreement, or contract, which could lead to legal action or penalties against the party at fault.

Credit Arrangement

An agreement between a lender and a borrower regarding the loan terms, repayment conditions, and interest rates.