When a party not involved in the transaction fails to distribute resources effectively, there is a positive externality.
An agreement or communication between a buyer and a seller to trade products, services, or assets in exchange for money is a financial transaction. Any transaction involves a shift in the financial situation of two or more entities, whether they be people or businesses. There are always one or more financial assets involved in a financial transaction, most frequently money or another pricey object like gold or silver.
Financial transactions come in a wide variety of forms. The most frequent kind, purchases, take place when a consumer is sold a thing, service, or other commodities in exchange for money. The majority of purchases are made with cash, which can be physical money, debit cards, or checks.
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