Option 1: This option suggests that either party, A or B, can exploit the other. However, in a pure voluntary exchange, exploitation should not occur. Both parties in the exchange are entering into the transaction willingly and based on their own free will and self-interest, with the intention of benefiting from the exchange. Therefore, option 1 is incorrect.

Option 2: This option correctly states that in a pure voluntary exchange, both parties gain and it is a win-win situation. This means that each party involved in the exchange perceives that what they are receiving is of greater value than what they are giving up. There is mutual benefit and both parties are satisfied with the outcome. It is important to note that in a voluntary exchange, both parties have the freedom to enter or reject the exchange. This option accurately captures the essence of a pure voluntary exchange.

Option 3: This option suggests that if party A makes a profit, it must come at the expense of party B. However, in a pure voluntary exchange, both parties benefit from the transaction, so it is not necessary for one party to lose in order for the other to profit. Option 3 is incorrect.

Option 4: This option suggests that both parties can lose in a pure voluntary exchange. However