Challenge the Conventional Wisdom

Test the soundness of your economic knowledge. By applying the socratic method, we will question your assumptions and the logic of your reasoning, which will hopefully lead to a better understanding of our economic reality.

27.10.10

What is an exchange?

  • a bilateral transaction, in which one person gives up a value and receives a value in return
  • a bilateral transaction, in which one person gives up a value and the other doesn't
Posted by Ex Nihilo at 2:19 AM
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