Asked by
Dardane Iseini
on Dec 12, 2024
Verified
Which of the following statements about exchange is false?
A) The expectation of gain motivates people to engage in trade.
B) If a party to a potential exchange does not believe that it will lead to personal gain, he or she can chose not to engage in the trade.
C) Voluntary exchange is generally mutually beneficial to the trading partners.
D) If one trading partner gains, the other must lose.
Potential Exchange
The possibility of trading goods, services, or other items of value between parties.
Trade
The exchange of goods, services, or both between two or more parties.
- Gain insight into the theory of voluntary exchange and how it generates mutual profits for the participants.
Verified Answer
MH
Learning Objectives
- Gain insight into the theory of voluntary exchange and how it generates mutual profits for the participants.