A transaction cost is the type of major cost category that is considered in the cost associated with placing and receiving the order.
<h3>What is a transaction cost?</h3>
It is also defined as those expenses incurred when buying or selling a good or service. This costs represent the labor required to bring a good or service to market which is also giving rise to entire industries dedicated to facilitating exchanges.
Therefore, the transaction cost is the type of major cost category that is considered in the cost associated with placing and receiving the order.
