Economic Interactions on The Consequences of Transaction Costs

Transaction costs arise because of contracts between one party and another, between one institution and another, between individuals and institutions and so on. The purpose of this study aims to determine the concept of costs in economic transactions in modern economic transactions. By using a resea...

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Bibliographic Details
Published in:Journal of economic development, environment and people environment and people, 2022-07, Vol.11 (3), p.27
Main Authors: Sinaga, Anton Atno Parluhutan, Sitorus, Sunday Ade
Format: Article
Language:English
Subjects:
Economic aspects
Economic development
Indonesia
Online Access:Get full text
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Summary:Transaction costs arise because of contracts between one party and another, between one institution and another, between individuals and institutions and so on. The purpose of this study aims to determine the concept of costs in economic transactions in modern economic transactions. By using a research method, namely library research. The results of this study are current conditions showing that the concept of economic transaction costs is something real and is practiced in economic activities. The fact proves that economic transaction costs are an inseparable part of economic activity, besides that economic transaction costs cannot be avoided in economic activity. Anyone who carries out economic activities must be faced with economic transaction costs.
ISSN:2285-3642
2285-3642
DOI:10.26458/jedep.v11i3.77