Which of the Following Is Not True

question 33

Multiple Choice

Which of the following is not true?

• A)​Voluntary exchange is expected to be advantageous to both parties to the exchange.
• B)​What one trader gains from a trade, the other must lose.
• C)​If one party to a potential voluntary trade decides it does not advance his interests, he can veto the potential trade.
• D)​The expectation of gain motivates people to engage in trade.

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Definitions:

More Substitutes

The increase in alternative products or services that can replace or serve as options to a current product.

Demand Is Inelastic

A situation where the quantity demanded of a product changes very little in response to changes in its price.

Total Revenue

The overall amount of money generated from the sale of goods or services before subtracting any expenses.

Determinants Of Elasticity

Factors that influence the sensitivity of the quantity demanded or supplied of a good to price changes.