The phrase "double coincidence of wants" ________.
A)is useful to explain why barter is an efficient practice
B)refers to two people who have similar tastes
C)suggests a quite improbable circumstance
D)clarifies the distinction between income and wealth
E)none of the above

Question

Quizplus · Accepted Answer

The phrase "double coincidence of wants" refers to the situation in barter economies where two parties each hold an item the other wants, making a direct exchange possible. This is considered improbable because it requires both parties to have precisely what the other desires at the same time, highlighting a fundamental inefficiency in barter systems.

The Phrase "Double Coincidence of Wants" ________