Transaction costs are costs (not to be confused with the price of the good or service) that are associated with the purchase of a good or service, such as the cost of locating buyers or sellers, negotiating the terms of an exchange, and insuring that the exchange occurs on the agreed upon terms. When transaction costs decrease, trade increases.
Standard detail
3.
Benchmark
Depth 1Parent ID: BE8FF68B72B14892A611779A28A99702Standard set: Grades 9, 10, 11, 12
Original statement
Quick facts
- Statement code
- 3.
- List ID
- 3.
- Standard ID
- 959D926C3B114D2389816C1F18A5608D
- ASN identifier
- S2604722
- Subject
- Economics
- Grades
- 09, 10, 11, 12
- Ancestor IDs
- BE8FF68B72B14892A611779A28A99702
- Source document
- Voluntary National Content Standards in Economics (2010)
- License
- CC BY 3.0 US