For an Exchange to Occur, ________

question 75

Multiple Choice

For an exchange to occur, ________.

• A) at least two people or organizations must be willing to make a trade, and each must have something the other wants
• B) there must be one winner and one loser
• C) someone must make a financial profit
• D) the item must be tangible
• E) time utility must be created

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Definitions:

Relationship

The way in which two or more concepts, objects, or people are connected, or the state of being connected.

Power of Attorney

A legal document granting one person (the agent) the power to act on behalf of another (the principal), especially in legal or financial matters.

Legal Documents

Written materials that are officially recognized and enforce certain rights or obligations.

Agent

An individual or entity authorized to act on behalf of another, often in a business or legal matter.