Which of the following is true regarding value and exchange?
A) Middlemen fail to create value since they do not expand the supply of physical goods.
B) A good or service has a given value regardless of who uses it or how it is used.
C) If it were not for middlemen, transaction costs would be zero.
D) Voluntary exchange creates value by channeling goods into the hands of people who value them most.

Question

Quizplus · Accepted Answer

Voluntary exchange creates value because it allows goods and services to be distributed to those who value them most, increasing overall satisfaction and utility.

Which of the Following Is True Regarding Value and Exchange