Home Economy *Unless there are external costs or benefits not captured in the market transaction

*Unless there are external costs or benefits not captured in the market transaction

by

I think I cringe that I wrote this:

While it is tempting to think of a market transaction resulting in winners and losers, it turns of that this is not the case.  A market transaction is not a competition between buyers and sellers, but rather a mutually beneficial exchange that result in both sides being better off than before the transaction. 

*See the title.

Related Posts

Leave a Comment