What matters in Economics is:
a. how much gain a transaction yields.
b. how the gains from a transaction are split between the buyer and the seller.
c. how much gain the buyer realizes from a transaction.
d. that the transaction between a buyer and a seller takes place.
Question 2
For a steel manufacturing firm, overhead costs would include:
a. cost of iron ore.
b. cost incurred in buying blast furnaces.
c. insurance premiums of the firm.
d. wages of the workers.
e. cost of electricity for running the machines in the factory.
