Practicing Success
An individual who has a surplus of rice which she wishes to exchange for clothing. She needs to find another person who has diametrically opposite demand for rice with a surplus of clothing to offer in exchange. Which of the following attribute/attributes of barter exchange is/are mentioned here? |
Double co-incidence of wants Search costs Both of above None of them |
Both of above |
The above situation refers to the double co incidence of wants and cost of finding the right person i.e. search costs. |