Markets Reduce Transactions Costs

Multiple Choice

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 coordinates 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.