What is the relation between value creation and transactions cost?
What will be an ideal response?
Value is created when transaction costs for the producer and consumers are lowered. Managers can also devise newer products and strategies to reduce transactions cost and thereby create additional value.
Economics
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Compared to 1929, total output per person in the U.S. today is approximately ________ times larger.
A. 15 B. 2 C. 25 D. 5
Economics
If the production of oranges reduces global warming, then the equilibrium quantity of oranges will be ________ the socially optimal quantity.
A. higher than B. equal to C. lower than D. more valuable than
Economics