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Analyze the characteristics that make any transaction possib

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Analyze the characteristics that make any transaction possible and justify the importance of each of the characteristics.

Evaluate the role institutions play in transactions and discuss the likely economic impact if institutions did not exist. Provide specific examples to support your response.

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Analyze the characteristics that make any transaction possible

In both finance and economics alike, the main defining criteria of a transaction is that an exchange takes place. This is what makes a transaction qualify as a transaction. The exchange involves as least two principles - a good exchanged for money, a service exchanged for another service, and so on. In less common transactions, we have at least two mediums still exchanged. In a computer transaction, input is exchanged for the result, or data is entered and exchanged for what will eventually become a comprehensive, computer-based report. The exchange of two specific items make any transaction possible.

and justify the importance of each of the characteristics.

Without the basic media being transacted, the transaction would not exist as a transaction. ...

Solution Summary

Analyze the characteristics that make any transaction possible and justify the importance of each of the characteristics.

Evaluate the role institutions play in transactions and discuss the likely economic impact if institutions did not exist. Provide specific examples to support your response.

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