You have just bought a used car and drive away satisfied that you've made a good deal on the purchase.What would an economist say about your "gain" on the deal?
A)Your gain has clearly meant that the seller lost on the deal.
B)The seller has clearly gained, and you have actually lost on the deal.
C)Both you and the seller have gained something.
D)If your gain is too large, then the deal should be renegotiated.
E)If the seller's loss is too large, then the deal should be renegotiated.

Question

Quizplus · Accepted Answer

An economist would argue that in a voluntary transaction, both parties must have benefited in some way, otherwise the transaction would not have occurred. Therefore, both you and the seller have gained something from the deal.

You Have Just Bought a Used Car and Drive Away