Single Answer MCQ
Q-00045382
In a barter system, what must occur for a transaction to be successful?
1
Both parties must want each other's goods
2
One party must have cash
3
One party must own a bank
4
Only one party needs to agree
Answer and Solution
Answer
A. Both parties must want each other's goods
Solution:
In a barter system, a transaction is successful only when both parties want each other's goods, known as double coincidence of wants.
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