7. A common misconception is that trade takes place between two people because: A. they are willing to pay a higher price for a good than it is worth to the current owner. B. they have too much of some goods. C. they have become convinced that it is ethical to do so. D. All the above. E. B and C only.
7. A common misconception is that trade takes place between two people because: A. they are willing to pay a higher price for a good than it is worth to the current owner. B. they have too much of some goods. C. they have become convinced that it is ethical to do so. D. All the above. E. B and C only.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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7. A common misconception is that trade takes place between two people because:
A. they are willing to pay a higher price for a good than it is worth to the current owner.
B. they have too much of some goods.
C. they have become convinced that it is ethical to do so.
D. All the above.
E. B and C only.
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