Voluntary exchange is the act of buyers and sellers freely and willingly engaging in market transactions. Moreover, transactions are made in such a way that both the buyer and the seller are better off after the exchange than before it occurred.
Many economists believe that voluntary exchanges are more conducive to economic efficiency than exchanges mandated by governments.
Famous quotes containing the words voluntary and/or exchange:
“Her voluntary fruits, free without fees;”
—Torquato Tasso (1544–1595)
“Even if you find yourself in a heated exchange with your toddler, it is better for your child to feel the heat rather than for him to feel you withdraw emotionally.... Active and emotional involvement between parent and child helps the child make the limits a part of himself.”
—Stanley I. Greenspan (20th century)