Buying a product in one market and reselling it in another market at a higher price is referred to as
A) arbitrage.
B) purchasing power parity.
C) crowding in.
D) barter.

Question

Quizplus · Accepted Answer

Arbitrage refers to the practice of buying a product in one market where the price is lower and then reselling it in another market where the price is higher. This is done to take advantage of the price difference and earn a profit.

Buying a Product in One Market and Reselling It in Another