Which one of the following statement with reference to the Pure Voluntary Exchange is not correct?
1
Voluntary exchange is a term created by neoclassical economists to describe their primary assumption of trading
2
It is a type of transaction where two parties freely trade goods or services.
3
With government restrictions, a voluntary exchange can create fair competition in the marketplace.
4
This occurs in a market economy, which is a type of economy where both participants of an interaction gain a mutual benefit from it and are better off than when they started.