7. High transactions costs Command or first-come, first-served Managers in firms issue commands and avoid the transactions costs that they would incur if they went to a market every time they needed a job done. First-come, first-served saves a lot of hassle in waiting lines. These lines could have markets in which people trade their place in the line—

but someone would have to enforce the agreements. Can you imagine the hassle at a busy Starbucks if you had to buy your spot at the head of the line?