Question

Voluntary exchange that occurs in a market

A. is the result of competition among buyers.
B. is mutually beneficial.
C. requires disinterested consumers.
D. is the result of voluntary opportunity cost.

Answer 1

Voluntary exchange is a concept in economics where buyers and sellers engage in mutually beneficial transactions. It is characterized by the freedom of both parties to make choices about what to buy or sell. This exchange is beneficial because both parties believe that what they are receiving is worth more than what they are giving up.

Step-by-step explanation:

Voluntary exchange is a concept in economics that occurs in a market where buyers and sellers engage in transactions by mutual agreement. It is characterized by the freedom of both buyers and sellers to enter the market and make choices about what to buy or sell, at what price, and from whom. This exchange is beneficial for both parties because they believe that what they are giving up is worth less than what they are receiving in return.