Which of the Following Is True of Exchange

question 157

Multiple Choice

Which of the following is true of exchange?

• A) The value of a good is determined by the cost of the resources required to produce the good.
• B) Exchange makes it possible for trading partners to produce more goods through division of labor and adoption of mass production methods.
• C) Nothing new is created by exchange; if one party to an exchange gains, the other must lose an equal amount.
• D) Both a and b are true.

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Definitions:

Power

The ability or capacity to influence the behavior of others or the course of events.

Esteem

Respect and admiration felt towards someone or something based on their qualities or achievements.

Personality Trait

Enduring characteristics that describe an individual's behavior.

Emotional Maturity

The ability to understand, manage, and appropriately respond to one's own emotions and the emotions of others.