Because countries cannot produce everything it needs they specialize in what they can produce most efficiently.
by 21
Voluntary trade describes a market where buyers and sellers have the right to sell and buy by their own preference or refuse to if they so choose. Both buyers and sellers benefit from this type of trade.
Voluntary exchange in designed in such a way that both buyers and sellers are better off than before the exchange. People gain goods of greater or equal value after the exchange.
some sellers benefit and some sellers are harmed.
variable costs the right answer is ....voluntary exchange
by 21
I don't know and I don't care!
Voluntary trade describes a market where buyers and sellers have the right to sell and buy by their own preference or refuse to if they so choose. Both buyers and sellers benefit from this type of trade.
Voluntary exchange in designed in such a way that both buyers and sellers are better off than before the exchange. People gain goods of greater or equal value after the exchange.
some sellers benefit and some sellers are harmed.
both buyers and sellers.
variable costs the right answer is ....voluntary exchange
variable costs the right answer is ....voluntary exchange
In a free market economy, specialization benefits buyers by meeting individual needs. Specialization benefit sellers by creating a sector that is not profitable for big business.
Voluntary trade describes a market where buyers and sellers have the right to sell and buy by their own preference or refuse to if they so choose. Voluntary trade also describes a person's freedom to choose to work for compensation versus being forced into labor.
The characteristic of capitalism where buyers and sellers freely and willingly exchange in market transactions is referred to as voluntary exchange. This principle is at the core of capitalist economies, allowing individuals to participate in trade based on mutual consent and self-interest.
The act of buyers and sellers freely and willingly engaging in market transactions. Moreover, transactions are made in such a way that both the buyer and the seller are better off after the exchange then before it occurred.