MCQ 11 Mark
Read the conversation between a farmer, a shopkeeper, and a shoemaker:
Shoemaker to a farmer: I'LL GIVE YOU SHOES FOR YOUR WHEAT.
Farmer to a shoemaker: I DON'T NEED SHOES. I NEED CLOTHES.
Shopkeeper: I WANT SHOES. BUT I DON'T HAVE WHEAT.
What kind of problem is faced by a farmer, a shopkeeper, and a shoemaker?
Shoemaker to a farmer: I'LL GIVE YOU SHOES FOR YOUR WHEAT.
Farmer to a shoemaker: I DON'T NEED SHOES. I NEED CLOTHES.
Shopkeeper: I WANT SHOES. BUT I DON'T HAVE WHEAT.
What kind of problem is faced by a farmer, a shopkeeper, and a shoemaker?
- ALack of terms of credit
- BLack of Banking system
- C
- DLack of collateral security
Answer
View full question & answer→(c) Lack of double coincidence of wants
Explanation:
Lack of double coincidence of wants
Explanation:
Lack of double coincidence of wants
