Fixing your sink is an example of a nonmarket transaction.

Question 30 options:

True

False

True

Explanation:

Before proceeding to the non-market transaction, we should see what market transaction is.

Market transaction refers to the economically significant trade. In other words, When a transaction creates a monetary situation, it is a market transaction.

Therefore, it is simple to predict a non-market transaction. According to Organizations for economic cooperation and development, non-market transaction covers the free supply of goods and services by the producers, and that is not significant in the monetary value. Hence, fixing the sink will not cost anything. So, it is True.