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N: The standard abbreviation for the quantity of land resources, especially for the analysis of production. The letter "N" is used even though land begins with an "L" because "L" is used to represent labor. The complementary representations for other inputs are "L" for labor and "K" for capital.

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DOUBLE COINCIDENCE OF WANTS

The requirements of a barter exchange that each trader has want the other wants and wants what the other has. Because everyone does not necessarily want everything, the lack of double coincidence of wants is a major obstacle in barter exchanges, especially for complex, modern economies like that fond in the United States. While double coincidence of wants is also essential for exchanges involving money, it is such an inherent trait of money that it is not a problem. By its very nature as a generally accepted medium of exchange, everyone WANTS money.

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Today, you are likely to spend a great deal of time at a crowded estate auction trying to buy either a handcrafted bird house or a weathervane with a chicken on top. Be on the lookout for crowded shopping malls.
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The earliest known use of paper currency was about 1270 in China during the rule of Kubla Khan.
"If anything terrifies me, I must try to conquer it. "

-- Francis Charles Chichester, yachtsman, aviator

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National Futures Association
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