Asked by Kristen Salcedo on May 17, 2024
Verified
Markets tend to increase the costs of time and information required for exchange.
Transaction Costs
Expenses incurred when buying or selling goods or services, including fees, charges, and other costs associated with the transfer of assets.
Exchange
The act of giving one thing and receiving another, especially of the same type or value, in return.
- Identify the roles of transaction costs and how they affect market exchanges.
Verified Answer
JR
JivithaRao RamaRaoMay 20, 2024
Final Answer :
False
Explanation :
Markets actually decrease the costs of time and information required for exchange by facilitating easier access to goods and services, thereby making transactions more efficient.
Learning Objectives
- Identify the roles of transaction costs and how they affect market exchanges.
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