Differentiate the two terms/concepts: Trust and reciprocity


Differentiate the two terms/concepts:

Trust and reciprocity

Trust and Reciprocity:

This question calls for an understanding of two common terms, trust and reciprocity. These terms extend into all avenues of life, but for this question we'll be contemplating their meanings from an economic standpoint. Examples where they come into play are international trade, sales on credit, labor agreements, and commitments and contingencies.

Answer and Explanation: defines trust as "reliance on the integrity, strength, ability, surety, etc., of a person or thing." From an economic...

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Learn more about this topic:

Reciprocity: Definition, Principle & Types

from Introduction to Business: Homework Help Resource

Chapter 13 / Lesson 17

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