Exchange by barter requires a coincidence of wants.
Answer the following statement true (T) or false (F)
True
Economics
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The financial and opportunity costs consumers pay when looking for a good or service:
a. supply shock b. shortage c. excess supply d. disequilibrium e. search costs
Economics
Suppose we have the following information about a furniture maker: furniture sales $100M, wood purchases $60M, wages $25M, tax on profits $5M, profits $10M. What is the contribution to GDP of this company using the product approach?
A) $100M. B) $60M. C) $40M. D) $15M.
Economics