what is economic transaction? give three example
Answers
According to Economics Help: “Atransaction cost is any cost involved in making an economic transaction. Forexample, when buying a good or buying foreign exchange, there will be sometransaction costs (in addition to the price of the good. The cost could be financial, extra time or inconvenience.”
Economic Transaction: transfer of goods, the rendering of services (including saving and risk-taking), and transfers of money and other investments between residents of one country and residents of another country. Two categories of Economic Transactions: A
EX.Examples include shops, high streets, or websites. The term may also refer to the whole group of buyers for a good or service. ... A market is where consumers and sellers get together to buy and sell goods and services.