Question

Similarities of exchange and transaction

Answer 1

Answer:

The key difference between transaction and exchange is that a transaction is a contract or agreement between two parties where a good or service is exchanged in return for a monetary value whereas an exchange is a swap of a good or a service between two parties.

Answer 2

Similarities of exchange and transaction

Explanation:

Exchange is a process where trade off related to some goods and services takes place between two parties, where as transaction leads to creation of contract between for goods and services between two parties for some monetary value. it has following similarities:

• both involves some goods and services.
• minimum two parties are needed in both the case for the transfer to take place.
• both transaction and exchange are important methods used for trade.
• both transaction and exchange occurs when parties are willing to participate.

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Similarities of exchange and transaction

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