Is transaction cost economics related to the operations of a firm?
Yes
No
Only to certain industries
Not applicable to modern firms
Answer
Yes, transaction cost economics is related to the operations of a firm. The main focus of transaction cost economics is on the costs involved in transacting with another party, and how these costs can be minimized. This can include the costs of negotiating a contract, the costs of monitoring the other party's performance, and the costs of enforcing the contract if the other party does not perform as agreed.
Discovering the Economics Legacy: The Oliver E. Williamson Quiz
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