High Transaction Costs Will Tend to

question 28

Multiple Choice

High transaction costs will tend to

• A) reduce the number of mutually beneficial exchanges that occur.
• B) allow easier specialization according to the law of comparative advantage.
• C) increase the value created by exchanges in an economy.
• D) increase the number of mutually beneficial exchanges that occur.

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Definitions:

Differ

To be unlike or distinct in nature, form, or characteristics.

Continuous Learning

The ongoing process of acquiring new skills or knowledge throughout an individual's career or life, fostering personal and professional growth.

Active Participation

Engagement and involvement in activities or discussions, contributing positively rather than passively observing.

Organization's Training System

The structured program within an organization designed to enhance the knowledge, skills, and abilities of its employees.