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Transaction Cost (view source)

Revision as of 14:17, April 22, 2007

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Transaction Cost is the time, money, and effort spent to get what one wants.  For example, in order to drive to the store and buy groceries, you must first spend effort and time to earn money, then you spend that money on gas to drive to the store and when you arrive on groceries, time  is also spent driving to and from the store and shopping.
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Transaction costs are the time, money, and effort spent to get what one wants.  For example, in order to drive to the store and buy groceries, you must first spend effort and time to earn money, then you spend that money on gas to drive to the store and when you arrive on groceries, time  is also spent driving to and from the store and shopping.
    
Common transaction costs are:
 
Common transaction costs are:
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