Economics: The Basics 1st Edition by Mike Mandel

تمرين 3

Suppose you have been making earrings as gifts for your family and friends.
a) Are those gifts market transactions? Why or why not?
b) Now suppose you turn your jewelry hobby into a business and start selling earrings. Are those sales market transactions?
c) Once you start selling earrings, will that change the type of earrings you make? ( Hint: Think about what customers might want.)