Buyers and sellers in a flea market often determine the terms of exchange through a process of ________.

Question

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In a flea market, buyers and sellers engage in bilateral bargaining where they negotiate and determine the terms of exchange between them. This process allows both parties to reach an agreement that benefits them. Collective bargaining entails groups of people negotiating as a unit, while sniping refers to bidding at the last minute in an auction setting. Arbitration involves the resolution of disputes through a third-party mediator.

Buyers and Sellers in a Flea Market Often Determine the Terms