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National Economy and Need to Curtail Transaction Costs

National Economy and Need to Curtail Transaction Costs
National Economy and Need to Curtail Transaction Costs

Applying measures to control and reduce transaction costs is vital for the development of Iran’s economy, says Nasser Zakeri, an economist, in an article for the Persian daily Shargh. 
A translation of the text follows:
Transaction costs are expenses incurred when buying or selling goods or services, including brokerage fees, transfer of ownership charges, various taxes, attorney's fees and transportation costs. 
Generally, the sum which the seller receives for transferring the ownership of their goods is less than what the buyer pays for acquiring those goods. The downtrend in transaction costs is one of the achievements of the development process worldwide. 

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