If a housewife has meat and wants tomatoes, she must find...
If a housewife has meat and wants tomatoes, she must find someone who has tomatoes to give and wants meat. This concept is described as
Scale of preference
Opportunity cost
Complementary demand
Double coincidence of wants
Correct answer is D
Double coincidence of wants simply mean searching for those who need what you have and at the same time has what you need. It is a major barrier to barter trade.
The terms of trade are said to be favorable only if ...
Economics of scale operate only when ...
A set of factors that can shift the supply curve are changes in ...
A fall in the marginal propensity to save will lead to ...
The production within domestic territory of a country is called the ____ ...
The following are all factors determining the location of industry except ...
In Nigeria, the bank that can correctly be described as a unit bank is ...