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JAMB Economics 2002 Question 11

Question 11

Money and Inflation

The solution to the problem of double coincidence of wants requires a buyer and a seller whose demands are precisely

  1. A.competitive
  2. B.composite
  3. C.supplementary
  4. D.complementary
Show the answer and explanation

Answer: D (complementary)

Explanation

Under barter, trade happens only when each person wants exactly what the other offers, i.e. their wants complement each other.