An example of third parties in the market of automobiles is
A) a pedestrian that is affected by the polluted air from automobiles.
B) a seller of an automobile.
C) a buyer of an automobile.
D) None of the above belongs to third parties.

Question

Quizplus · Accepted Answer

A pedestrian that is affected by the polluted air from automobiles is a third party in the market of automobiles as they are not directly involved in the transaction of buying or selling the automobile. The seller and buyer of an automobile are considered first and second parties, respectively.

An Example of Third Parties in the Market of Automobiles