Which of the following is an example of a quoted-price market?
A)Streetcash, a website that allows buyers to negotiate product prices with the sellers
B)Vidwom, a website that allows buyers to bid for items sold by other users
C)Gramspot, a website where cars are auctioned by sellers for charity
D)Nile, a website that allows sellers to sell their products for a fixed price

Question

Quizplus · Accepted Answer

Nile is an example of a quoted-price market, where sellers set a fixed price for their products. Streetcash and Vidwom are examples of auction markets, where buyers negotiate or bid for prices, respectively. Gramspot is an example of a hybrid market, where sellers auction off their products for charity.

Which of the Following Is an Example of a Quoted-Price