The Act of Buying a Product at a Low Price

question 57

True/False

The act of buying a product at a low price in one market and reselling the product at a higher price in another market is called arbitrage.

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Definitions:

Transformation

In chemistry, it refers to a change in the chemical structure of a molecule through a chemical reaction.

Equilibrium

A state in a chemical reaction where the rates of the forward and reverse reactions are equal, leading to stable concentrations of reactants and products.

Concentration

Concentration refers to the amount of a substance per defined space; it is a measure of how much of a solute is dissolved in a specific amount of solvent.

Exothermic

Describes a chemical reaction that releases heat into its surroundings.