________ are the costs associated with negotiating, monitoring, and governing exchanges between people.
A) Economies of scale
B) Transaction costs
C) Economies of cost
D) Salaries

Question

Quizplus · Accepted Answer

Transaction costs refer to the expenses incurred during the negotiation, monitoring, and governance of exchanges between individuals. These can include legal fees, communication costs, and administrative expenses, among others. The concept of transaction costs is important in understanding why certain types of exchanges may be more costly or difficult to execute than others.

________ Are the Costs Associated with Negotiating, Monitoring, and Governing