Ask Question
BusinessBusiness
29 May, 13:37

A seller at a farmer's market wants $10 for a bag of 10 apples. You think his price is too high, so you counter with an offer of $6 for the bag. The seller then offers you a much smaller bag of five apples for $6. You bargain again, and the seller lets you buy the 10 apples for $8. This scenario is an example of:

+5
Answers (1)
  1. 29 May, 15:41
    0
    The question is incomplete:

    A seller at a farmer's market wants $10 for a bag of 10 apples. You think his price is too high, so you counter with an offer of $6 for the bag. The seller then offers you a much smaller bag of five apples for $6. You bargain again, and the seller lets you buy the 10 apples for $8. This scenario is an example of:

    -A centrally planned market

    -A shortage

    -A market in action

    -A perfect competition

    Answer:

    -A market in action

    Explanation:

    -A centrally planned market is a market in which the price and the resources are determined by the government.

    -A shortage is when the demand of a product is greater than the supply and there are not sufficient products available.

    -A market in action is when in a free market the prices change freely when there are changes in the supply and the demand.

    -A perfect competition is a market in which the are a lot of buyers and sellers, the price is determined by supply and demand and there is no government intervention.

    According to this, the answer is that this scenario is an example of market in action because it shows a market in which the price changes with the changes in the buyer and the seller.

    The other options are not right because in the example there is no government intervention, there is a sufficient amount of apples and there is not a large amount of buyers and sellers and the price is not determine by the forces of supply and demand.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “A seller at a farmer's market wants $10 for a bag of 10 apples. You think his price is too high, so you counter with an offer of $6 for the ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
The current price of xyz stock is $50.00. dividends are expected to grow at 7% indefinitely and the most recent dividend was $1. what is the required rate of return on xyz stock? 9.3% 10.6% 9.0% 11.2% 9.1%
Answers (1)
How do firms examine productivity? A. by calculating the externalities on a production chart B. by doing quarterly staff reviews and creating growth plans C. by examining revenue receipts and calculating the profit margin D.
Answers (1)
Abbott Landscaping purchased a tractor at a cost of $30,000 and sold it three years later for $16,200. Abbott recorded depreciation using the straight-line method, a five-year service life, and a $4,000 residual value.
Answers (1)
Novak, CPAs, are preparing their service revenue (sales) budget for the coming year (2017). The practice is divided into three departments: auditing, tax, and consulting. Billable hours for each department, by quarter, are provided below.
Answers (1)
Which management approach advocates that supervisors be behaviorally trained to manage subordinates in ways that elicit their cooperation and increase their productivity?
Answers (1)
New Questions in Business
A debt does not have to be past due before a creditor can begin legal action against a debtor. true or false.
Answers (1)
If the government wants to increase production of a good to achieve marginal social benefit, then the following policy will most likely be implemented a.
Answers (1)
Suppose that consumption is $500 and that the marginal propensity to consume is 0.6. If disposable income increases by $1,000, consumption spending will increase by A. $600 B. $ 3,000 C. $1,360 D. $ 3,750 E. $1,666.67
Answers (1)
Which of the following is generally true about savings vehicles? -A Savings vehicles are only used for long-term investments. -B People should evaluate different forms of savings vehicles based on their needs. - C Savings vehicles are never insured.
Answers (1)
Marquis Company uses a weighted-average perpetual inventory system and has the following purchases and sales: August 2 30 units were purchased at $11 per unit. August 18 35 units were purchased at $13 per unit. August 29 32 units were sold.
Answers (1)
Home » Business » A seller at a farmer's market wants $10 for a bag of 10 apples. You think his price is too high, so you counter with an offer of $6 for the bag. The seller then offers you a much smaller bag of five apples for $6.
Sign Up Forgot Password?