Explain why contracts are beneficial to markets
What will be an ideal response?
Contracts specify the terms of trade, facilitating exchange between strangers.
Economics
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According to the equation of exchange, the money supply times the velocity of money equals the
A) price level. B) growth rate of the money supply. C) real GDP. D) nominal GDP.
Economics
Workers who organize to bargain collectively for wages and working conditions form a
a. joint council b. labor cartel c. labor federation d. collective e. labor union
Economics