Question

In an informed and voluntary exchange,__________.a. both parties receive something they value more than what they gave up.b. both parties place an equal value on what they received and what they gave up.c. neither party can gain more than the other.d. one trader can gain only at the expense of the other.

Answer 1

a. both parties receive something they value more than what they gave up

Step-by-step explanation:

Voluntary exchange is a practice where buyers and sellers freely and willingly partake in transactions, and these transactions are made in win-win methodology which implies that both parties are better off after the exchange than before.

Therefore in an informed and voluntary exchange both parties receive something they value more than what they gave up.