Differentiate between double oral auctions and bilateral negotiations
What will be an ideal response?
A double oral auction is an auction mechanism in which sellers post asks and buyers post offers simultaneously, while a bilateral negotiation is a bargaining mechanism in which a single seller and a single buyer confront one another with bids and asks.
Economics
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Barter is an inefficient means of exchange because
A) barter transactions require a double coincidence of wants. B) barter only occurs in relatively primitive economies. C) demand will not necessarily equal supply. D) in a barter transaction only one party needs to want what the other party has to sell.
Economics
As the velocity of money rises, the amount of money being held by individuals also rises
a. True b. False Indicate whether the statement is true or false
Economics