Which of the following characteristics of a competitive market make auction sites such as eBay so popular?
A) There is freedom of entry and exit.
B) There are very low transaction costs.
C) There are only one or two sellers.
D) Buyers and sellers have complete information.
B
Economics
You might also like to view...
Technical innovation spurs economic growth because it
A) increases labor productivity. B) increases the stock of capital goods. C) provides more powerful means of production. D) does all of the above.
Economics
What is the free-rider problem, and how is it related to public goods?
What will be an ideal response?
Economics