Why do markets need social ties? A. to maintain alliances of kinship and friendshipB. to maintain levels of trust necessaryC. to carry out economic transactions D. to facilitate repeated transactions E. to diminish the influence of random, one-shot transactions on market exchanges

Question

Business

Karissa Hood

25 October, 07:10

Why do markets need social ties? A. to maintain alliances of kinship and friendshipB. to maintain levels of trust necessaryC. to carry out economic transactions D. to facilitate repeated transactions E. to diminish the influence of random, one-shot transactions on market exchanges

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Answers (1)

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Grant · Answer 1

The correct answer are letter "B" and "C": to maintain levels of trust necessary and to carry out economic transactions.

Explanation:

The world market we are into today would not have been possible without countries having social ties. Every good relationship is base on trust, so for economies to risk assets over another, there must be a certain level of trust developed between them. Those economic transactions are not only useful to boost each country's revenues but also it is a reference for unusual regions to get interested in them to start new commercial partnerships.