Whenever a buyer and a seller agree to trade,both must believe they will be made better off

Question

Quizplus · Accepted Answer

This statement is generally true for any trade between a buyer and a seller, regardless of their location or the type of economy in which they operate. The idea behind trade is that both parties are able to exchange something they value less for something they value more, resulting in a mutual benefit. However, in certain cases such as international trade, there may be factors such as tariffs or exchange rates that can make one party worse off.

Whenever a Buyer and a Seller Agree to Trade,both Must