Define transaction cost and explain why trade increases if transaction costs decrease (e.g., the cost of locating buyers or sellers, negotiating the terms of an exchange, ensuring the exchange occurs on the agreed upon terms, etc.).
Standard detail
E.3.10
Objective
Depth 2Parent ID: 8752C4D39EF64607921B07FD9D68F3F8Standard set: Economics
Original statement
Quick facts
- Statement code
- E.3.10
- Standard ID
- 590D9894CDC14746913B822ABB15BF86
- ASN identifier
- S21336359
- Subject
- Social Studies (2022-)
- Grades
- 09, 10, 11, 12
- Ancestor IDs
- 8752C4D39EF64607921B07FD9D68F3F8C4E83999A47A45AD9B359257D42E8377
- Source document
- Mississippi College- and Career-Readiness Social Studies Standards (2022)