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DOUBLE COINCIDENCE OF WANTS: The requirements of a barter exchange that each trader has want the other wants and wants what the other has. Because everyone doesn't necessarily want everything, the lack of double coincidence of wants is a major obstacle in barter exchanges, especially for complex, modern economies. While double coincidence of wants is also essential for exchanges involving money, it's such an inherent trait of money we don't think twice about it. By its very nature as a generally accepted medium of exchange, everyone WANTS money.
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MARKET CLEARING A condition of the market in which the quantity demanded is equal to the quantity supplied, such that the market is "clear" of any shortage or surplus. Market clearing is a common, non-technical term for equilibrium. In a market graph, the market clearing is found at the intersection of the demand curve and the supply curve.
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RED AGGRESSERINE
[What's This?]
Today, you are likely to spend a great deal of time looking for the new strip mall out on the highway trying to buy either a printer that works with your stockpile of ink cartridges or income tax software. Be on the lookout for pencil sharpeners with an attitude.
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This isn't me! What am I?
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A lump of pure gold the size of a matchbox can be flattened into a sheet the size of a tennis court!
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"Even a mistake may turn out to be the one thing necessary to a worthwhile achievement." -- Henry Ford
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BAE
Bureau of Agricultural Economics
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