Which of the following is true?​ a. ​Economists assume that there are no private property rights in a free market. b. ​A free market is also known as a fettered market. c. ​A voluntary transaction means that all parties to the transaction must expect to benefit. d. ​People always receive goods and services at a discounted price in a free market. e. ​An economic growth is represented by an inward shift of the production possibility curve.

Which of the following is true?​ a. ​Economists assume that there are no private property rights in a free market. b. ​A free market is also known as a fettered market. c. ​A voluntary transaction means that all parties to the transaction must expect to benefit. d. ​People always receive goods and services at a discounted price in a free market. e. ​An economic growth is represented by an inward shift of the production possibility curve.

 

 

Answer:

c. A voluntary transaction means that all parties to the transaction must expect to benefit. A voluntary transaction is done when both parties are willing to transact and this happens only when are at some benefit .

Asked on February 15, 2018 in economics.
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