Question

QUESTIONS Which of the following is not something that could be considered part of the transaction costs involved in two people making an exchange? Ensuring the other participant in the exchange is trustworthy Transferring the product from the seller to the buyer Determining the location of a point by forming triangles to it from known points (Triangulation"). Defining the terms of an exchange Finding the other participant in the exchange QUESTION 9 Which of the following goods has the most significant network effects? Fax machine Internet connected "Smart kitchen appliances (eg an oven you can tum on with your phone) • Wi-Fi router O Vinyl record shops

Answer 1

Question 8

which of the following is not something that could be considered part of the transaction costs involved in two people making an exchange?

Answer:

Determining the location of a point by forming triangles to it from known points("Triangulation")

Question 9

which of the following goods has the most significant network effects?
Answer:

Wi-Fi routers

As an additional user can take benefit from a Wi-Fi router by using internet services. Hence it describes the network effect.