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- Explain how, at the moment of
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Card 15 / 100: Explain how, at the moment of exchange, both parties in a voluntary trade expect to benefit from it.
Answer:
If a trade is voluntary, it means that both parties agree to it, that neither is being forced into making the trade. Therefore, it must be the case that each party expects to benefit from it in some sense. Sample Partial Credit Answer People are usually pretty good at knowing what they like.
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Dr.Robert MurphyAssociated Scholar
Mises Institute
USA
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Attribution:
Dr. Robert P. Murphy, Lessons for the Young Economist. (Mises Institute), http://mises.org/document/6215/Lessons-for-the-Young-Economist (Accessed 04 April, 2014). License: Creative Commons BY
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