In barter, both parties must want each other's goods. This requirement…

Question

In barter, both parties must want each other's goods. This requirement is called:

Accepted Answer

A. Double coincidence of wants

1. A shoe maker must find a farmer wanting shoes.
2. This is the double coincidence of wants.
3. Money removes the need for it.
_Source: syllabus Understanding Economic Development, Chapter 3, Money and Credit._

Answer

Common medium of exchange

Answer

Standard terms of credit

Answer

Bank demand deposit rule

In barter, both parties must want each other's goods. This requirement is called:

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