The cost of making an economic exchange is called a(n)________ cost.
A) sunk
B) transaction
C) social
D) accounting

Question

Quizplus · Accepted Answer

A transaction cost is the cost incurred during a financial transaction. It includes any fees, commissions, or other charges that may apply to the exchange of goods or services. Sunk costs refer to costs that have already been incurred and cannot be recovered. Social costs refer to costs that affect society as a whole, while accounting costs are the direct monetary costs incurred by a business.

The Cost of Making an Economic Exchange Is Called A(n)________