Esther wants to buy a used car from her neighbor,who quotes a price of $18,000.Esther negotiates with her neighbor and offers him $16,500 for the car.This is an example of ________.

Question

Quizplus · Accepted Answer

This scenario is an example of bilateral bargaining as Esther and her neighbor are negotiating a price for the car. Collective bargaining involves two or more parties negotiating as a group, while arbitration involves a neutral third party making a decision on a dispute. Speculation involves buying and selling assets with the hope of making a profit.

Esther Wants to Buy a Used Car from Her Neighbor,who