They had trade routes and sold to the people of the lands.
Answer:
TRUE
Explanation:
The Coase theorem states that when transaction cost are low, two parties will be able to bargain and reach an efficient outcome in the presence of an externality.
The Coase Theorem also states that when conflicting property rights occur, bargaining between the parties involved will lead to an efficient outcome regardless of which party is ultimately awarded the property rights, as long as the transaction costs associated with bargaining are negligible. If trade in an externality is possible and there are no transaction costs, bargaining will lead to an efficient outcome regardless of the initial allocation of property rights.
The first person to sail around Africa and to reach India ( and to get some precious spices from there!) was Portuguese Vasco da Gama, who did this in his journey that started in 1497 and reached India in 1498 ( and returned in 1499)
Answer:
Explanation:
From the question above;
From the income statement;
1. debit of $37000,
2. Credit of $49000,
The income is $12000, while from the balance sheets,
1. Debit of $85000
2. Credit of $73000,
Income is -$12000,
The net income is $12000 while net loss is also -$12000
