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All main topics / Politics / General / POLS Test 1
10
What is a transaction cost?
the time/effort/resources required to compare preferences and make collective decisions.  The transaction cost increases with more participants.
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Flashcard info:
Author: Trixdawabbit
Main topic: Politics
Topic: General
School / Univ.: UGA
City: Athens
Published: 03.03.2010

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