JAMB Economics 2022 Objective — Question 18

Question 18 of 40 from the Joint Admissions and Matriculation Board (JAMB) Economics 2022 Objective paper, with the correct answer and a full explanation.

18. Which of the following monetary systems requires double coincidence of wants?

A. (A) Gold era
B. (B) Barter systemCorrect
C. (C) The commodity system
D. (D) 'chequeing' system

Explanation

The barter system requires that two persons must each want what the other has to offer (double coincidence of wants) before an exchange can occur.

Sign up free to unlock

Score tracking
Practice history
Saved questions
Progress dashboard
Personalized sessions
Weak-topic breakdown

…and/or go further with premium services and No Ads.

Create free account

More questions from Economics 2022 Objective More Economics past papers