|
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 doesn't necessarily want everything, the lack of double coincidence of wants is a major obstacle in barter exchanges, especially for complex, modern economies. While double coincidence of wants is also essential for exchanges involving money, it's such an inherent trait of money we don't think twice about it. By its very nature as a generally accepted medium of exchange, everyone WANTS money.
Visit the GLOSS*arama
|
|

|
|
ECONOMY The system of production, distribution, and consumption of goods and services that a society uses to address the problem of scarcity.
Complete Entry | Visit the WEB*pedia |


|
|
ORANGE REBELOON [What's This?]
Today, you are likely to spend a great deal of time watching infomercials trying to buy either throw pillows for your bed or a package of blank rewritable CDs. Be on the lookout for mail order catalogs with hidden messages. Your Complete Scope
This isn't me! What am I?
|
|
The earliest known use of paper currency was about 1270 in China during the rule of Kubla Khan.
|
|
"Experience keeps a dear school, but fools will learn in no other. " -- Benjamin Franklin
|
|
UNCTAD United Nations Conference on Trade and Development
|
|
Tell us what you think about AmosWEB. Like what you see? Have suggestions for improvements? Let us know. Click the User Feedback link.
User Feedback
|

|