Transaction Costs 

Transaction costs are the costs associated with the process of buying or selling goods or services. They can include search costs, information costs, negotiation and haggling costs, and contracting and monitoring costs.

In a business context, transaction costs can also refer to the fees charged by financial intermediaries for arranging a transaction, such as brokerage fees and commissions.

In economics, the concept of transaction costs is used to explain why some market transactions do not take place even though they would be beneficial to both parties involved. The presence of transaction costs can lead to situations where it is more efficient for two parties to supply a good or service to each other directly, rather than going through the market.