There are four conditions that must be met before an exchange can take place. Once these conditions are met, an exchange will always take place.

Question

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The four conditions that must be met before an exchange can take place are 1) parties have something of value to exchange, 2) parties are able to communicate and deliver what is being exchanged, 3) parties are free to accept or reject the exchange, and 4) parties believe the exchange will benefit them. These conditions do not guarantee that an exchange will always take place. There may be other factors, such as changes in market conditions, that could prevent an exchange from occurring.

There Are Four Conditions That Must Be Met Before an Exchange