Transaction costs are part of a value chain but costs of finding information are not.

Question

Quizplus · Accepted Answer

Transaction costs and costs of finding information are both part of a value chain. Transaction costs refer to the costs associated with completing a transaction, such as negotiating prices and contracts, while costs of finding information refer to the costs associated with acquiring information about products or markets. Both types of costs are important to consider when analyzing a value chain.

Transaction Costs Are Part of a Value Chain but Costs