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AP® Microeconomics

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Moderate

Trade: Necessary Conditions

APMICR-1LNGES

Which of the following must be true for trade to occur?

A

Both parties must expect to benefit from the trade.

B

There must be a coincidence of wants between the buyer and seller.

C

Both sides must have perfect information about the transaction.

D

A monetary system must exist.

E

All of the above.