Transaction costs are the costs that are necessary to undertake an economic transaction (trade, exchange, delivery of goods or services, loans, etc.).
It is typically a time and effort spent on searching and obtaining the necessary information and the negotiation of the transaction.
Example: Transaction cost of shopping in the supermarket is the time spent traveling to the supermarket, the purchase and the way home.
Related terms:
Related management field:
Related discipline:
Comments
You cannot contribute to the discussion because it is locked