During the first month of operation, Sasha's Massage experienced the following transactions
Instructions:
Definitions:
Opportunity Cost
The value of the best alternative forgone, where a choice needs to be made between several mutually exclusive alternatives under conditions of scarcity.
Invisible Hand
A term coined by Adam Smith to describe the self-regulating nature of the marketplace, where individuals' pursuit of self-interest leads to beneficial social outcomes.
Market Behavior
Refers to the aggregate actions and reactions of buyers and sellers in a marketplace, influencing prices, supply, and demand.
Trade
The exchange of goods, services, or both between two or more parties, often internationally or domestically to mutual advantage.
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