Voluntary exchange is based on the principle that all parties must gain from trade.

Name: Voluntary exchange is based on the principle that all parties must gain from trade.
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Question

Quizplus · Accepted Answer

Voluntary exchange is a transaction in which both parties are satisfied with what they receive. If one party is unhappy, the exchange would not be voluntary. Therefore, the principle of voluntary exchange is based on the idea that both parties must gain from the trade, otherwise, there is no incentive for them to participate.

Voluntary Exchange Is Based on the Principle That All Parties