One significant component of _____ can be the investment a seller makes in equipment or in the hiring of skilled employees to supply the product or service to the buyer.
A) economic costs
B) transaction costs
C) opportunity costs
D) retention costs

Question

Quizplus · Accepted Answer

Transaction costs include the investment a seller makes in equipment or in hiring skilled employees to supply the product or service to the buyer. These are costs incurred during the process of buying or selling, which can include search and information costs, bargaining costs, and policing and enforcement costs.

One Significant Component of _____ Can Be the Investment a Seller