Per-Unit Transaction Costs

question 15

Multiple Choice

Per-unit transaction costs

• A)may cause the demand and supply curves to shift either inward or outward depending on the value obtained from transaction agents.
• B)refer only to the commission paid to a third party for each transaction made.
• C)are absorbed by the party seeking the transaction.
• D)have the same effect on behavior as do lump-sum transaction costs; the difference in terminology is purely definitional.

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Definitions:

Personal Orientation Inventory

A questionnaire based on self-reporting aimed at assessing individual development and the achievement of one's full potential.

Self-Actualization

The achievement or satisfaction of one's abilities and possibilities, seen as an innate motivation or necessity in every individual.

Correlate Negatively

A statistical relationship between two variables in which one increases as the other decreases.

Humanistic Psychology

An approach to psychology that emphasizes individual potential and stresses the importance of growth and self-actualization.