Markets reduce transactions costs a. by decreasing the time ...

[tiffannnnyyyyyy]

Markets reduce transactions costs
 a. by decreasing the time spent searching for information about goods and services
  b. only when they have a highly structured set of rules like the New York Stock Exchange
  c. because each market uses the same set of rules for buying and selling goods and services
  d. only when the government can coordinate the plans of many buyers and sellers
  e. when prices are set by the sellers and are not determined by negotiation between the buyers and the sellers

Question 2

Which of the following statements about markets is not true?
 a. A market is an impersonal mechanism.
  b. Markets coordinate the independent decisions of buyers and sellers.
  c. Markets reduce the transaction costs of exchange.
  d. More specialized markets are generally found in urban areas.
  e. All markets provide the same amounts of information.

[at]

Answer to Question 1

A

Answer to Question 2

E

[tiffannnnyyyyyy]

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