Costs that pertain to finding a trading partner and making a trade are called

Question

Quizplus · Accepted Answer

Transaction costs are the costs associated with finding a trading partner and making a trade. These costs include finding a suitable counterparty, negotiating terms, drafting contracts, and any other costs associated with the exchange. Transgression costs and transaction taxes are not related to the process of finding a trading partner and making a trade. Consumption costs are associated with the consumption of a good or service, not with the exchange process.

Costs That Pertain to Finding a Trading Partner and Making