Jean wants to sell her camera. Greg offers her $250. Lee offers her $300. Jean decides to sell the camera to Greg because he made the first offer. This is an example of an efficient market transaction.

Question

Quizplus · Accepted Answer

An efficient market transaction is one where all available information is reflected in the price, and buyers and sellers can easily enter and exit the market. In this case, Jean did not consider all available offers and did not allow for other potential buyers to enter the market, making it an inefficient transaction.

Jean Wants to Sell Her Camera