Suppose you camped out in front of an electronics store to be one of the 200 lucky people able to purchase the latest gaming system. You bought the system for $350. Two weeks later you see that the same system can be sold on e-Bay for $600, so you sell your system. Your market role is as:
A)a consumer in both of these markets.
B)a consumer at the electronics store and as a seller on e-Bay.
C)a consumer at the electronics store; the e-Bay transaction did not occur in a market.
D)a seller in both of these markets.

Question

Quizplus · Accepted Answer

The person played the role of a consumer when they bought the gaming system from the electronics store. However, they then played the role of a seller on e-Bay when they sold the same gaming system for a higher price. Therefore, the person acted as a consumer at the electronics store and as a seller on e-Bay. The fact that the e-Bay transaction happened in an online market further supports this answer.

Suppose You Camped Out in Front of an Electronics Store