Ask Question
4 February, 19:15

The costs in time and other resources that parties incur in the process of facilitating an exchange of goods and services are called a. enforcement costs. b. implicit costs. c. transactions costs. d. explicit costs.

+4
Answers (1)
  1. 4 February, 20:40
    0
    Transactions costs.

    Explanation:

    Transactions costs are the cost that a business incurs in the course of making a trade. It is not directly part of the product but is realised during transacting activities.

    Examples of transaction cost includes legal fees, charges on communication, cost incurred in finding information on price, and labour that conveys product to the market.

    Determining transaction cost is important because if transaction costs are high income will reduce, while low transaction cost result in higher income.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “The costs in time and other resources that parties incur in the process of facilitating an exchange of goods and services are called a. ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers