The Coase Theorem Is the Proposition That Private Transactions Are

question 83

Multiple Choice

The Coase Theorem is the proposition that private transactions are efficient if property rights exist, if only a ________ number of parties are involved, and if transactions costs are ________.

• A) large; low
• B) large; high
• C) small; low
• D) small; high

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Definitions:

Expressed Need

A requirement or desire that has been clearly stated or communicated by individuals or groups.

Actual Need

The genuine requirement or necessity for a product or service based on a customer's specific situation or problem.

Key-Account Sellers

Sales representatives who focus on establishing and maintaining partnership relationships with a small set of three to five named accounts.

Important Accounts

Key customers or clients that contribute significantly to a company's revenue, requiring customized service and attention.